DE Shaw Renewable Investmentsâ(DESRI) 180 MWac solar projects at Cove Mountain in Iron County, Utah have started commercial operation. Cove Mountain and Cove Mountain 2 have entered into long-term PPAs with PacifiCorp on behalf of Facebook, providing its data center operations with new solar resources. Swinerton Renewable Energy builds the projects.
âThe DESRI team is delighted to begin business operations at our Cove Mountain facility, which has been achieved through our strong partnerships with PacifiCorp, Facebook and First Solar,â said David Zwillinger, CEO of DESRI. “These are DESRI’s first renewable energy projects in Utah to achieve commercial operation, which represents a significant milestone in our mission to expand clean, cost-effective power generation in Utah.”
The acquisition and construction of the Cove Mountain projects were funded by a syndicate of lenders, including HSBC, CIBC, National Bank of Canada, National Cooperative Services Corporation and Fifth Third Bank. Wells Fargo provided tax fairness for the projects.
âWe are proud to provide tax equity funding to DESRI for the Cove Mountain projects. These large solar projects are helping accelerate the country’s transition to a low-carbon economy while providing jobs for the local community, âsaid Sam Buechner, director of Wells Fargo Renewable Energy & Environmental Finance.
Cove Mountain and Cove Mountain 2 represent two of nine DESRI projects that are currently in operation, under construction or have signed PPAs in Utah. DESRI’s other projects in Utah include Hunter Solar, which began operations this year, and Sigurd Solar, which reached mechanical completion in March.
DE Shaw Renewable Investments press article