D. E. Shaw Renewable Investments (DESRI) has closed the acquisition of and debt financing for the Arroyo Solar and Storage project in New Mexico, which it acquired from developer Centaurus Renewable Energy.
Arroyo is DESRI’s first solar project with co-located battery storage to enter construction and financing. DESRI said the first phase of the 300-megawatt ac solar and 150-megawatt ac battery energy storage project is expected to commence operations in June 2022, with full commercial operation slated for fall 2022.
Arroyo has two offtake contracts with Public Service Company of New Mexico for the solar and storage output. The facility is expected to generate enough clean energy to power some 83,500 homes each year.
Once operational, it will be one of the largest solar and battery projects in the United States.
