An affiliate of D. E. Shaw Renewable Investments LLC (DESRI) has acquired the 100 MW AC Willow Springs Solar Project in Kern County, Calif., from First Solar Inc.
Terms of the deal were not disclosed. The project, which was developed by First Solar, is currently under construction, with completion estimated by the end of 2018. The project will supply power to Southern California Edison Co. through a long-term arrangement.
“DESRI is thrilled to close on the acquisition of Willow Springs from First Solar,” says Bryan Martin, CEO of DESRI. “This project is a testament to the strong partnership that our firms have built over many years. We are looking forward to using First Solar’s leading Series 6 module technology to deliver clean energy to the Kern County community for years to come.”
“We are grateful for the opportunity to build on our strong relationship with DESRI as they grow their solar portfolio,” adds Georges Antoun, First Solar’s chief commercial officer. “We are also pleased to play a part in helping enable Southern California Edison deliver clean, renewable energy to their customers.”
When in operation, the project is expected to annually provide enough clean electricity to power about 41,000 typical California homes and displace more than 77,000 metric tons of CO2 greenhouse-gas emissions each year.
Willow Springs is the fourth renewable energy project DESRI has acquired from First Solar. In 2017, a DESRI affiliate acquired the 40 MW AC Cuyama Solar Project in Santa Barbara County, and in 2016, DESRI affiliates acquired the 31 MW AC Portal Ridge Solar Project in Los Angeles County and the 11 MW AC Rancho Seco Solar Project in Sacramento County.