DE Shaw Renewable Investments (DESRI) and Torch Clean Energy have reached financial notice to proceed on the 75MW Hunter solar farm in the US state of Colorado.
Hunter, which is located in Arapahoe County, was initially developed by Cypress Creek Renewables and acquired by a joint venture of DESRI and Torch.
The project has two power purchase agreements, one with CORE Electric Cooperative and the other with Holy Cross Energy (HCE), for the full capacity.
Fifth Third Bank National Association and National Cooperative Services Corporation served as coordinating lead arrangers and lenders for the acquisition, construction, and operation of the project.
Primoris will serve as the engineering, procurement and construction contractor, while Hunt Electric will serve as EPC contractor for the substation.
Solv will provide ongoing operations and maintenance services to the facility once operational.
DESRI chief commercial officer Tom de Swardt said: “We are excited to start construction on DESRI’s first solar site in Colorado and support the continued expansion of green energy in the state.
“We are particularly pleased to grow our relationships with new electric cooperatives, and appreciate the spirit of partnership from CORE and HCE in reaching this milestone, as well as the continued support of Fifth Third and CFC for DESRI’s projects.”
Torch Clean Energy president Jonathan Kilberg said: “Torch is excited to start construction on what we hope to be the first of many solar projects in Colorado, our home state.
“We are honoured to be playing a role in CORE and HCE achieving their green energy goals.”
CORE chief operating officer Pam Feuerstein said: “CORE Electric Cooperative looks forward to providing additional low-cost renewable energy to its members through the Hunter Solar project.
“This sort of arrangement is a win-win for all involved.”
HCE president and chief executive Bryan Hannegan said: “HCE is pleased to be working with DESRI and Torch to bring online the new Hunter Solar project, that supports our journey to 100% clean energy plans.
“In addition to our local solar project developments, the location of this project in Arapahoe County provides important solar resource diversity for our mountain towns and communities that are looking to live and work more sustainably.”