D. E. Shaw Renewable Investments (DESRI) has acquired two Utah solar projects, Cove Mountain and Cove Mountain 2, from First Solar Inc.
The sale totals 180 MW AC of capacity, nearly doubling DESRI’s portfolio of First Solar-developed projects.
Cove Mountain and Cove Mountain 2 – both under construction, with completion expected next year – have long-term power purchase agreements (PPAs) with PacifiCorp on behalf of Facebook, providing Facebook’s data center operations with solar.
DESRI previously acquired four First Solar-developed projects in California: the 100 MW AC Willow Springs Solar Project in Kern County; the 40 MW AC Cuyama Solar Project in Santa Barbara County; the 31 MW AC Portal Ridge Solar Project in Los Angeles County; and the 11 MW AC Rancho Seco Solar Project in Sacramento County.
“Cove Mountain 1 and 2 are powered by one of the most financeable and reliable photovoltaic technologies available today and are underpinned by long-term PPAs to support the renewable energy and carbon reduction goals of one of the best-recognized names in technology,” says Bryan Martin, CEO of DESRI. “While these projects further solidify the long-standing partnership between our companies, they also demonstrate the value that First Solar is able to deliver by developing and operating world-class solar assets.”
Once commissioned, both projects, comprising First Solar’s Series 6 module technology, will be operated by First Solar Energy Services.