DE Shaw Renewable Investments LLC (DESRI), part of the DE Shaw group, said that , it has acquired and immediately started construction of a 52-MW solar power plant in Mississippi.
The company bought the Mississippi Solar 2 project in Lamar County from Origis DevCo Inc for an undisclosed sum. It has selected DEPCOM Power Inc to be the engineering, procurement and construction (EPC) contractor and also to provide ongoing operations and maintenance (O&M) services to the plant upon completion in the second quarter of 2017.
A syndicate of lenders led by Santander Bank has provided financing for the acquisition and construction of the plant. Citi, in turn, will contribute tax equity financing.
Mississippi Solar 2 will use photovoltaic (PV) panels made by Hanwha Q Cells (NASDAQ:HQCL), inverters supplied by SMA Solar Technology (ETR:S92) and single-axis trackers by NexTracker. The project has a 25-year power purchase agreement (PPA) with Mississippi Power Company (MPC).
