Meta & D. E. Shaw Renewable Sign 200 MW Clean Power Project in Arkansas

The signing of a long-term renewable energy offtake deal with Meta was recently announced by D. E. Shaw Renewable Investments (DESRI), a significant U.S. producer of renewable energy. To come up in Phillips County, Arkansas, the Long Lake Project (also known as Long Lake) will be a 200 MWac project. To meet the region’s expanding energy needs, DESRI and Meta have signed a power purchase agreement (PPA) to supply energy and capacity.

As one of the biggest projects in the state, Long Lake is DESRI’s first undertaking in Arkansas. DESRI’s expanding solar portfolio, which also includes projects in Virginia and Utah, is boosted by the project’s contribution to Meta.

“DESRI is working to expand its portfolio of low-cost, on-peak renewable energy projects so that it may serve utility and corporate clients across the nation,” said Hy Martin, DESRI’s chief development officer. 

Urvi Parekh, Head of Renewable Energy at Meta, said, “We appreciate DESRI’s involvement in helping us introduce new renewable energy to the grid in support of our operations. As we expand, this project will be crucial in assisting us in maintaining our commitment to using only renewable energy.”

Long Lake is anticipated to have a large positive impact on the neighborhood, including the creation of jobs in construction and other forms of regional economic growth. The project’s long-term owner and operator will be DESRI.

Acadian Renewable Energy (Acadian), a partnership between SunChase Power and Eolian, L.P., oversaw the early construction of Long Lake. According to Aaron Zubaty, CEO of Eolian, “Eolian and SunChase formed Acadian in 2015, anticipating the growing need for affordable solar energy in Arkansas and the wider MISO power market that will directly reduce the passthrough fuel costs from conventional thermal generators while simultaneously producing valuable energy during the highest-demand, hottest summer afternoons.”

A few years back, D. E. Shaw Renewable Investments announced the groundbreaking of two projects in Louisiana—the Iris Solar project in Washington Parish and the St. James Solar project in St. James Parish. Together, the projects represented the largest solar facility currently under construction in Louisiana and will produce a combined 70 MW of power.