Lendlease, an international property and infrastructure group, announced that D. E. Shaw Renewable Investments (DESRI) has acquired the 160-MWAC Rancho Seco Solar II project, located in Sacramento County, California. The project, initially developed by Lendlease, has a 30-year PPA in place with the Sacramento Municipal Utility District (SMUD) and will be built on the site of a decommissioned nuclear power plant. Construction on Rancho Seco Solar II began last year and the project is expected to be the largest solar facility in Sacramento County upon completion.
“We are very excited to partner with SMUD again, and grow our considerable renewable energy portfolio in California,” said Bryan Martin, CEO of DESRI. “We are thrilled to expand on Rancho Seco, which we have owned since 2016, by acquiring Rancho Seco Solar II. Through this we can continue to provide clean and cost-efficient green energy to the City of Sacramento’s residents and businesses.”
“We are proud to partner with DESRI in order to develop the renewable energy options in California,” said Craig Carson, general manager of Lendlease Energy Development. “Rancho Seco Solar II sets the standard for sustainable energy generation located on decommissioned nuclear power plant sites in the United States, and Lendlease is committed both to further development of renewable energy facilities and working with the most innovative partners in this field.”
News item from D. E. Shaw Renewable Investments