DESRI, which stands for D.E. Shaw Renewable Investments, announced this Thursday the signing of three renewable energy offtake agreements with Entergy Louisiana. The deal includes three solar energy projects totaling 350 megawatts of capacity.
Firstly, DESRI is a company focused on developing, acquiring, owning, and operating long-term contracted renewable energy assets in the US. Currently, the company has more than 50 solar and wind projects representing more than 6 GW of aggregate capacity.
Under the agreement with Entergy Louisiana, three solar projects will begin construction under power purchase agreements, with Entergy supporting the activities to strengthen its portfolio in the region.
Moreover, the projects include the Vacherie Solar Energy Center, a 150MW facility in St. James Parish; the SJ Louisiana Solar Project, also a 150 MW adjacent to Vacherie; and the Sunlight Road Solar Project, a 50MW solar facility in Washington Parish.
In addition, the first two projects will be DESRI’s second and third solar facilities in St. James Parish, following the 20 MW St. James Solar Project; while the third project, the Sunlight Road, will be DESRI’s second solar facility in Washington Parish, following the 50 MW Iris Solar Project.
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DESRI to unlock substantial benefits for communities
Furthermore, according to the statement, the projects might start delivering clean energy to Entergy Louisiana and its customers around the beginning of 2024. Also, the projects will deliver significant community benefits, including the creation of several hundred construction jobs.
On the other hand, affiliates of SunChase Power and Eolian led the initial development of SJ Solar; the earlier 20MW capacity of St. James, and the 50MW of Iris, which construction is currently underway.
About the relevance of the projects, Hy Martin, chief development officer of DESRI. “These projects will provide affordable energy to Louisiana residents and create local economic development benefits as the state becomes a national leader in the new energy economy.”
Finally, Phillip May, Entergy Louisiana president and CEO, commented. “We look forward to extending that partnership on three more projects across our state and to help our communities prosper for generations to come.”