D.E. Shaw Renewable Investments (DESRI) has acquired the 160 MW-ac Rancho Seco Solar II project, located in Sacramento County, California.
The project, initially developed by Lendlease, an international property and infrastructure group, has a 30-year Power Purchase Agreement 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. According to DESRI, this partnership will allow Sacramento to continue to provide clean and cost-efficient green energy to its residents and businesses.
Sacramento is no stranger to clean energy. In 2018, Nestlé Waters North America announced that its facility in Sacramento will be powered by 100% renewable energy.
The clean, renewable electricity generated by SMUD is used by Nestlé Waters North America to produce sustainably-sourced beverage options for Californians, including the company’s Arrowhead Brand Mountain Spring Water and Nestlé Pure Life Purified Water. By transitioning its electrical power needs to renewable sources, the carbon footprint of the Nestlé Waters factory will be reduced by more than 21,279 metric tons of carbon dioxide by 2021.