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DE Shaw acquires, starts construction on 52-MW Miss. solar facility

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DE Shaw acquires, starts construction on 52-MW Miss. solar facility

D. E. Shaw Renewable Investments LLC has started construction at the 52-MW Mississippi Solar 2 facility after acquiring it from Origis DevCo Inc.

The Lamar County, Miss. based project is expected to be completed in the second quarter of 2017. The facility is expected to generate approximately 130 million kWh of power each year, which it will sell to Southern Co. utility Mississippi Power Co. under a 25-year power purchase agreement, according to a Dec. 15 release.

"We are excited to expand our footprint into Mississippi with a groundbreaking project that we expect will provide both jobs and clean energy to the state's citizens and businesses," D. E. Shaw Renewable Investments CEO Bryan Martin said in a statement.

Santander Bank, Crédit Agricole Corporate, and Investment Bank and Siemens Financial Services Inc. financed the acquisition and construction of the project. Tax equity financing was provided by Citi.

DEPCOM Power Inc. will construct and provide operational and maintenance services for the facility.