D.E. Shaw Renewable Investments (DESRI) signed a long-term renewable energy offtake agreement with Cleco Power, a Central Louisiana electric utility, to build a 240-MWAC solar project at the recently retired Dolet Hills coal-fired power plant in DeSoto Parish, Louisiana.
The Dolet Hills Solar Project joins Cleco’s growing renewable energy fleet and follows the company’s recent announcement of Project Diamond Vault, a decarbonization initiative to build a carbon capture facility at its central Louisiana Brame Energy Center.
“This solar project is another step forward in Cleco’s journey to becoming Louisiana’s leading clean energy company,” said Bill Fontenot, president and CEO of Cleco Corporate Holdings. “This project continues our efforts to reduce our carbon footprint while affordably and reliably serving our customers.”
Pending project approvals, Dolet Hills will be one of the largest solar facilities in Louisiana and will represent more than $250 million invested towards powering approximately 45,000 homes. While Dolet Hills Solar is the first power purchase agreement between the companies, DESRI’s portfolio in Louisiana will now total nearly 700 MWac in construction and contracted clean power projects.
“DESRI is proud to deliver low-cost, clean, reliable power to Cleco and its customers from this landmark solar energy facility,” said Hy Martin, chief development officer of DESRI. “Alongside our partners at Cleco, the project will provide local economic benefits to DeSoto Parish and the surrounding communities for years to come. In addition, the project will replace lignite-fired electricity with renewable power sited on reclaimed mining lands.”
News item from Cleco Power