DESRI Completes Major Financing for Texas Solar Projects
DESRI Completes Major Financing for Texas Solar Projects
Today, DESRI proudly announced that it has closed a significant preferred equity financing of $129 million aimed at a 250-megawatt (MWac) solar development portfolio. This portfolio consists of two innovative solar projects located in West Texas, an area ripe for renewable energy enhancement.
Meeting Industrial Energy Needs
Peter Koczanski, Director at DESRI, expressed enthusiasm regarding the investment, stating, "DESRI is excited to support the construction of a leading US Independent Power Producer's projects, which will serve new industrial load in the area. This financing showcases DESRI's prowess as a capital solutions provider in the renewable energy sector. Furthermore, DESRI brings substantial industry expertise, having successfully managed the construction of over eight gigawatts of renewable projects. This allows us to efficiently leverage our capabilities to create added value for the assets we invest in. Our dedicated team consistently delivers favorable outcomes for our partners."
Collaboration and Advisory Support
In this transaction, DESRI received valuable legal advice from King & Spalding LLP, ensuring a smooth and compliant closing process. This collaboration underlines the importance of having knowledgeable partners when navigating the complexities of renewable energy financing.
About DESRI
DESRI is a notable player in the renewable energy sector, focusing on the development, acquisition, investment, ownership, and operation of long-term contracted renewable energy assets across the U.S. The company's impressive portfolio features 70 solar and wind projects that collectively represent over ten gigawatts in aggregate capacity. Additionally, DESRI functions as a financial investor within the renewable energy market, providing the necessary capital to foster growth for various companies engaged in the industry.
Frequently Asked Questions
What type of projects is DESRI focusing on?
DESRI primarily develops and finances renewable energy projects, including both solar and wind power initiatives across the U.S.
How much financing did DESRI secure for the Texas solar projects?
DESRI closed a preferred equity financing deal totaling $129 million for the 250 MW solar portfolio.
Who advised DESRI on this transaction?
King & Spalding LLP provided legal advice throughout the financing process.
What is the significance of this investment?
This investment supports crucial developments in renewable energy, aiding industrial needs in West Texas while enhancing DESRI's commitment to sustainability.
How many renewable energy projects does DESRI manage?
DESRI's portfolio currently includes 70 renewable energy projects, encompassing solar and wind resources with significant capacity.
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