D. E. Shaw Renewable Investments (DESRI) has signed a long-term renewable energy offtake agreement with Southwestern Electric Power Co. (SWEPCO).
The Rocking R Solar Project will be a 72.5 MW AC facility in Caddo Parish, La., that is anticipated to come online in late 2024. DESRI has executed a 20-year renewable energy purchase agreement (REPA) with SWEPCO to support the utility’s growing renewable energy portfolio and help power local customers’ electricity needs.
“Our DESRI team is pleased to partner with SWEPCO to deliver cost-effective clean power to customers across Louisiana, Arkansas and Texas,” says Hy Martin, chief development officer of DESRI. “This solar project will deliver economic development benefits to Caddo Parish and the surrounding communities for years to come.”
Rocking R represents DESRI’s first contract with SWEPCO, DESRI’s first solar project in northern Louisiana, and the first utility scale solar project built in the parish. Rocking R is part of DESRI’s growing portfolio of solar facilities in Louisiana, bringing the total contracted portfolio size to over 500 MW in the state.
“We are excited to partner with DESRI to bring solar energy from the Rocking R project to our customers,” mentions Malcolm Smoak, SWEPCO’s president and COO. “This solar power purchase agreement will help our customers meet their renewable energy and sustainability goals, and it helps SWEPCO further diversify our energy resource mix.”
DESRI will be the long-term owner and operator. Initial development of Rocking R was led by SunChase Power and Eolian Energy.
“Eolian was specifically formed in collaboration with a global leader in infrastructure to accelerate the commercialization of the renewable energy and energy storage development assets that we have meticulously created with our partners,” adds Aaron Zubaty, CEO of Eolian. “We are extremely proud of the Rocking R project and the perseverance shown by SunChase to make this project a reality and to bring utility-scale, local renewable energy production to northwestern Louisiana.”
“We are pleased to see Rocking R, DESRI and SWEPCO reach this significant milestone,” states Heather Otten, SunChase Power’s co-founder and principal. “This project would not have become reality without the tremendous support of the landowner, a multi-generational local property owner, and her representatives. Thanks to her and the support from the local community, Caddo Parish will be home to a reliable source of clean, cost-effective, renewable energy.”
