D. E. Shaw Renewable Investments bought the 100 MW North Star Solar Project from Community Energy, Inc. and begun construction on the project, which is located in Chisago County, Minnesota.
Upon completion in late 2016, North Star will be the single largest solar energy project in the Midwest, and one of the largest in the U.S. North Star is located on private agricultural land and has a 25-year power purchase agreement with Minnesota-based Xcel Energy.
The North Star project will ultimately comprise more than 400,000 crystalline photovoltaic modules using single-axis tracking technology that follows the sun as it rises in the east and sets in the west. This tracking technology helps to increase both the project’s output and the value of the output to the utility system. In total, the project is expected to generate enough power for about 20,000 homes in its first year.
The project will be constructed by Swinerton Renewable Energy, a leading national renewable energy construction firm. The project is expected to employ over 300 people during construction and come online in late 2016.
D. E. Shaw Renewable Investments and its affiliates acquire, own, and manage long-term contracted renewable energy assets in North America. DESRI’s portfolio of renewable energy projects currently includes 23 wind and solar projects that represent more than 1,100 MW of aggregate capacity.