D.E. Shaw begins construction of 70 MW solar projects in Louisiana
D. E. Shaw Renewable Investments (DESRI) and Entergy New Orleans have started the construction of two projects in Louisiana, USA—the Iris Solar project in Washington Parish and St. James Solar project in St. James Parish.
Together, the projects represent the largest solar facility currently under construction in Louisiana and will produce a combined 70 MW of power. The 50 MW Iris Solar site comprises 492 acres and the 20 MW St. James site spans approximately 218 acres. Both projects are expected to reach commercial operation in mid-2021 and are expected to power more than 13,000 homes each year. Entergy New Orleans has entered into 20-year power purchase agreements with these facilities for the benefit of all customers.
Financing for the construction and operation of the projects was provided by a syndicate of lenders, including Societe Generale as coordinating lead arranger, and CIBC and Trust Bank (f/k/a SunTrust) as joint lead arrangers.
These solar projects were initiated and initially developed by Acadian Renewable Energy, LLC, a joint venture among affiliates of SunChase Power and MAP Renewable Energy. MAP Renewable Energy is a minority owner of the projects.
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