D. E. Shaw Renewable Investments and Bright Plain Renewable Energy Announce
the Completion of Keystone Solar Financing
SAN FRANCISCO -- January 15, 2013
D. E. Shaw Renewable Investments, L.L.C. (DESRI) and Bright Plain Renewable
Energy, L.L.C. (BPRE) announced the completed financing of the largest solar
power project in Pennsylvania. The 5-megawatt (AC) solar farm was developed by
Community Energy Solar in Lancaster County, Pennsylvania, and was acquired by
an affiliate of DESRI in partnership with BPRE earlier in 2012.
Exelon Generation (NYSE: EXE), the nation’s leading competitive power
generator, has contracted the project’s electricity output under a long-term
power purchase agreement. groSolar, a commercial and utility-scale solar
engineering, procurement, and construction firm, acted as the turnkey EPC
The acquisition was arranged by BPRE and financed with senior debt from
“Keystone Solar represents an on-going effort by BPRE to enable the success of
solar developers by providing knowledgeable, cost-competitive and reliable
capital to solar projects at the start of construction,” said BPRE CEO David
According to estimates by the U.S. Environmental Protection Agency, the
project will produce enough renewable power to avoid 5,726 tons of carbon
dioxide emissions per year, equivalent to removing over 1,193 cars per year
from Pennsylvania’s roads.
About Bright Plain Renewable Energy, L.L.C.
BPRE was founded in 2011 by industry veterans David Buzby and William Lee to
acquire and manage solar projects across North America. By building lasting
relationships with project developers and providing efficient and
knowledgeable capital, BPRE is enabling the growth of the solar industry.
BPRE’s strategic investors benefit from direct investment in long term
sustainable assets and stable cash flows. BPRE invests in distributed and
utility scale projects supported by PPAs with commercial, industrial,
municipal or utility clients.
About D. E. Shaw Renewable Investments, L.L.C.
D. E. Shaw Renewable Investments (DESRI) and its affiliates acquire long-term
contracted renewable energy assets in North America. DESRI is a member of the
D. E. Shaw group, a global investment and technology development firm with
more than 1,000 employees, approximately $27 billion in investment capital as
of October 1, 2012, and offices in North America, Europe, and Asia.
Bright Plain Renewable Energy, L.L.C.
David Buzby, 415-465-6743
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