Long Lake, a 200MW facility in Arkansas from DESRI (D.E. Shaw Renewable Investments) will power Meta.
A growth strategy
Long Lake, a DESRI project will power Meta through a long-term renewable energy purchase agreement. The project is located in Phillips County, Arkansas. In addition, this is one of the largest DESRI projects in the state.
Hy Martin, DESRI’s Director of Development, states:
“DESRI continues to develop a portfolio of affordable, peaking renewable energy projects to serve businesses and utilities across the country. We are pleased to partner with Meta on the Long Lake project and now have over 850MWac of clean energy nationwide to support their operations. We appreciate the continued support of the Phillips County community and look forward to developing this solar facility to meet Meta’s demand for renewable energy, while providing economic opportunities.”
The Long Lake project is expected to bring significant benefits to the community, including job creation. In addition, the project will provide other forms of local economic development.
Urvi Parekh, head of renewable energy at Meta, says:
“We appreciate DESRI’s partnership in helping us bring new renewable energy to the grid to support our operations.”
For Meta, this project is an important part of helping them achieve their goals. Thus, this renewable energy project is part of the company’s growth strategy.
A large portfolio
Acadian Renewable Energy was the initial developer of Long Lake. It is a joint venture between SunChase Power and Eolian. Aaron Zubaty, CEO of Eolian, states:
“Eolian and SunChase formed Acadian in 2015, anticipating the growing need for low-cost solar power in Arkansas and the broader MISO electricity market, which will directly reduce the fuel costs of conventional thermal generators while simultaneously producing valuable energy during the hottest and most in-demand summer afternoons.”
DESRI is developing renewable energy assets under long-term contracts in the United States. The renewable energy project portfolio includes 65 solar and wind projects. Together, these projects total over 6GW of capacity.
The investment and development company has $60 billion in committed capital. In addition, the company has offices in North America, Europe and Asia. DESRI is one of the largest producers of renewable energy in the United States
