DESRI Announces Signing of 400 MWac of Clean Energy Projects in Missouri and Texas with Meta

NEW YORK, Dec. 17, 2024 /PRNewswire/ -- D. E. Shaw Renewable Investments (DESRI), a leading renewable energy producer in the U.S., today announced the signing of two long-term renewable energy off-take agreements with Meta. The projects include a 250 MWac solar facility in Missouri and a 150 MWac solar facility in Texas. Both facilities are sited in the Midcontinent Independent System Operator (MISO) territory and are expected to reach commercial operation before the end of 2027.

This 400 MWac portfolio contributes to DESRI's growing solar portfolio with Meta, which also includes projects in Utah, Virginia, and Arkansas.

"Our renewable energy partnership with Meta has expanded to span five states, encompassing more than 1,200 MWac of clean energy nationwide. DESRI's portfolio of renewable energy projects supports Meta's continued growth and expansion across the United States," said Hy Martin, Chief Development Officer of DESRI. "These projects will support local rural economies and are part of DESRI's long-term strategy of developing, owning, and operating clean energy generation sources in close proximity to new load growth, particularly with our corporate data center customers in MISO and beyond."

"We're thrilled to expand our collaboration with DESRI and advance another portfolio of renewable energy projects," said Urvi Parekh, Global Head of Energy at Meta. "These projects help support our goal to continue matching our electricity usage with 100% clean and renewable energy."

DESRI purchased development rights to a 150 MWac project from Acadian Renewable Energy LLC (Acadian), a joint venture between SunChase Power LLC (SunChase) and Eolian L.P. (Eolian), in 2022, and DESRI completed development of the project over the past three years.

"We began development of this 150 MWac solar project with our partner, SunChase, in late 2016, targeting a region of the MISO power market that was experiencing sustained load growth from the greater Houston metro area, but that suffered from limited options for transmission expansion," added Aaron Zubaty, CEO of Eolian. "This project would not be possible without the ongoing support of local private landowners. We greatly appreciate their patience through the many years it has taken to advance this project to this important milestone," added Heather Otten, SunChase Co-Founder and Principal.

The facilities are expected to generate clean energy to power Meta's growing operational needs under long-term power purchase agreements.

Both projects are expected to create hundreds of construction jobs and contribute to the local economy throughout their operational terms. DESRI plans to be the long-term owner and operator of both projects.

About D. E. Shaw Renewable Investments

D. E. Shaw Renewable Investments (DESRI) and its affiliates develop, acquire, own, and operate long-term contracted renewable energy assets in the U.S. DESRI's portfolio of contracted, operating, and in-construction renewable energy projects currently includes 70 solar and wind projects representing more than nine gigawatts of aggregate capacity. DESRI is a member of the D. E. Shaw group, a global investment and technology development firm with more than $60 billion in investment and committed capital as of September 1, 2024, and offices in North America, Europe, and Asia.

Please visit www.desri.com for more information about DESRI.

This press release is provided for the reader's information only and does not constitute investment advice or convey an offer to sell, or the solicitation of an offer to buy, any securities or other financial products.

Please also note that this press release has not been updated since its dateline for any information contained in it that may have changed, including any beliefs and/or opinions. In addition, no assurances can be given that any aims, assumptions, expectations, and/or goals described in this release will be realized or that the activities or any performance described herein did or will continue at all or in the same manner as at the time of the press release.

Contact:
DESRI Media
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SOURCE D.E. Shaw Renewable Investments