DESRI Inks Strategic Financing Deal with Credit Suisse, Zions

Despite corona virus crisis, North American renewable energy producer D. E. Shaw Renewable Investments (DESRI) on Thursday said that it has entered into a strategic financing deal with Credit Suisse and Zions Bancorporation N.A. (Zions).

July 23, 2020. By Manu Tayal

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Despite corona virus crisis, North American renewable energy producer D. E. Shaw Renewable Investments (DESRI) on Thursday said that it has entered into a strategic financing deal with Credit Suisse and Zions Bancorporation N.A. (Zions). 

As per the deal, the lenders led by Credit Suisse, will provide DESRI with long-term financing to support its acquisitions and growth.

The company is focused on acquiring and managing long-term contracted renewable energy assets in the North American region and has a portfolio of projects aggregating more than 2.4 GW of aggregate capacity.

However, the company didn’t disclose much about the deal.

Speaking on the financial deal, Stan Krutonogiy, Chief Financial Officer of DESRI, said that “we are thrilled to be collaborating with Credit Suisse and Zions and appreciate everyone’s hard work to close this deal under such unusual global circumstances.”

“We look forward to working with Credit Suisse and Zions as we further expand DESRI’s renewables business,” Krutonogiy added.

Recently in June, the company had closed the financing of 80 MW Sigurd solar project through securing both construction debt and tax equity financing with the commencement of construction on its fourth utility-scale solar project in Utah.

The construction of this Sigurd project was commenced in late 2019, and the project is expected to employ over 300 people. Moreover, the project is likely to generate significant tax revenue for Sevier County over the project life.

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