D. E. Shaw Renewable Investments and Torch Clean Energy reaches Financial Notice to Proceed for Hunter Solar sale

D. E. Shaw Renewable Investments (DESRI) and Torch Clean Energy (Torch) have reached financial notice to proceed (FNTP) on the Hunter Solar photovoltaic project. Hunter is a 75 MWac solar facility located in Arapahoe County, Colorado. The project was initially developed by Cypress Creek Renewables, LLC, and acquired in a joint venture between DESRI and Torch.

Hunter has two power purchase agreements, one with CORE Electric Cooperative (CORE) and the other with Holy Cross Energy (HCE), for the full capacity of the project. The facility is expected to generate enough clean energy to power more than 18,500 homes each year, according to metrics provided by the Environmental Protection Agency.

Fifth Third Bank, National Association (Fifth Third), and National Cooperative Services Corporation (CFC) served as coordinating lead arrangers and lenders for the acquisition, construction, and operation of the project.

Primoris will serve as the engineering, procurement, and construction contractor (EPC), while Hunt Electric will serve as the EPC contractor for the substation. Solv, Inc. will provide ongoing operations and maintenance services to the facility once operational.