Harbert Invests $400 Million to Support DESRI’s Renewable Energy Projects

D. E. Shaw Renewable Investments has entered into a strategic finance relationship with Harbert Infrastructure managed fund funds, including Gulf Pacific Power LLC and Harbert Infrastructure Fund VI. (HIF VI). Under the arrangement, Harbert will provide DESRI with up to $400 million of capital to use at DESRI’s discretion. This relationship will support DESRI’s operations across the renewable energy sector in the United States.

“We have known and collaborated with the DESRI team for several years, in multiple capacities. They have a decades-long track record of performance in developing, owning and operating contracted renewable energy projects,” notes Claude Estes of Harbert. “Massive growth in renewable generation capacity is required to facilitate the energy transition and DESRI’s disciplined, consistent and strategic approach to development is something that our group has immense respect for. We are thrilled to officially call them our partner.”

“DESRI is extremely excited about our recently formed financing partnership with Harbert to continue to support our consistent growth,” says David Zwillinger of DESRI. “This financing will support DESRI’s growth in key electricity markets across the U.S. and facilitate new investment to serve our customers and host communities.”

DESRI focuses on long-term contract renewable energy assets in North America. The company has a portfolio totaling over 6 GW AC and includes construction, operating, and contracted projects.

Harbert has been developing, purchasing, owning, and operating infrastructure assets in the United States, Canada, for more than 35 years. He currently manages investments in power generator assets with a gross capacity of over 7 GWAC.