DESRI acquires First Solar’s 11 MW California PV project

The Rancho Seco Solar Project, located on the site of a decommissioned nuclear power plant, marks the latest deal between D. E. Shaw Renewable Investments and First Solar.

D.E. Shaw Renewable Investments (DESRI) has taken possession of First Solar’s 11 MW Rancho Seco Solar Project in Sacramento County, California, for an undisclosed amount.

The First Solar’s 11-MW Rancho Seco project is located on 60 acres of property owned by the Sacramento Municipal Utility District (SMUD), which is the site of the decommissioned Rancho Seco Nuclear Generation Station. Moreover, SMUD holds a 20-year PPA for energy from the plant. Decked out with First Solar’s advanced thin-film modules mounted on single-axis tracking tables, the Rancho Seco is expected to process more than 23000 MWh of electricity per year.

Also, the Rancho Seco solar plant is set to produce energy for SMUD’s commercial SolarShares program. Through the program, the Golden 1 Center, which is currently under construction for the Sacramento Kings basketball team, will draw approximately 85 percent of its power from Rancho Seco plant, making it one of the greenest sports arenas in the world.

D.E. Shaw Renewable Investments owns and manages long-term contracted renewable energy assets in North America. Its portfolio includes 25 wind and solar projects that represent more than 1.2 GW of aggregate capacity.

Source: PV Magazine