DESRI Receives $400 Million Investment from Harbert for Energy Projects

0

D. E. Shaw Renewable Investments (DESRI) has entered into a strategic financing relationship with Harbert Infrastructure managed funds, including Gulf Pacific Power LLC (GPP) and Harbert Infrastructure Fund VI (HIF VI). Under the arrangement, Harbert will provide DESRI with up to $400 million of capital to use at DESRI’s discretion. This relationship will support DESRI’s operations across the renewable energy sector in the United States.

“We have known and collaborated with the DESRI team for several years, in multiple capacities. They have a decades-long track record of performance in developing, owning and operating contracted renewable energy projects,” notes Claude Estes of Harbert. “Massive growth in renewable generation capacity is required to facilitate the energy transition and DESRI’s disciplined, consistent and strategic approach to development is something that our group has immense respect for. We are thrilled to officially call them our partner.”

“DESRI is extremely excited about our recently formed financing partnership with Harbert to continue to support our consistent growth,” says David Zwillinger of DESRI. “This financing will support DESRI’s growth in key electricity markets across the U.S. and facilitate new investment to serve our customers and host communities.”

DESRI is focused on owning and managing long-term contracted renewable energy assets in North America and has a portfolio of projects totaling over 6 GW AC of operating, construction and contracted projects.

Harbert has developed, acquired, owned and operated infrastructure assets in the United States and Canada for over 35 years and currently manages investments in power generation assets totaling over 7 GW AC of gross capacity.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments