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D. E. Shaw Renewable closes financing for 5 Ore. wind projects

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D. E. Shaw Renewable closes financing for 5 Ore. wind projects

D. E. Shaw Renewable Investments LLC closed financing for a portfolio of five wind farms totaling 50 MW in Baker County, Ore., according to an Oct. 12 release.

The Huntington projects consist of five independent 10-MW wind facilities with each using five 2-MW GE turbines. The projects, which are developed by Oregon Windfarms LLC, will sell power to Idaho Power Co. under 20-year qualifying facility power purchase agreements.

Separately, the D. E. Shaw & Co. LP affiliate broke ground on the Gray Hawk solar project in Arizona. The project is expected to generate 150 million kWh of power per year, which will be purchased by UniSource Energy Services subsidiary UNS Electric Inc. under a 25-year PPA.

Gray Hawk will help the UniSource Energy Services subsidiary to surpass the state's renewable energy standard requirements and the company's own renewable goals years in advance, said Ted Burhans, UES manager of renewable energy.

The project received construction financing from Santander and Siemens Financial Services and secured a commitment for tax equity financing from Citi.

Swinerton Renewable Energy will serve as the engineering, procurement and construction contractor with affiliate SOLV providing ongoing operations and maintenance services upon completion.

UniSource Energy is a subsidiary of Fortis Inc.