D. E. Shaw acquires Cuyama solar project from First Solar
Written By: Katherine Demetre
August 17, 2017
Per the company, the project is set for completion by the end of 2017. The company stated Pacific Gas & Electric (PG&E) would supply power under a 25-year power purchase agreement (PPA) starting in January 2019. In addition, First Solar reported that Community Choice Aggregator Peninsula Clean Energy obtained a one-year “bridge” PPA for power, to be delivered from the plant in 2018.
Bryan Martin, CEO of DESRI, commented:
We are delighted to work with First Solar on another California solar project. Their technology and integrated power plant solutions will help us provide a cost-effective energy solution for the residents and businesses of Santa Barbara.
According to First Solar, the power plant – which is assumed to be the first utility-scale solar installation in Santa Barbara County – will be expected to provide enough clean, affordable sustainable electricity to power about 16,000 typical California homes a year.