Macquarie to buy a minority stake in DESRI
- Admin
- Sep 25, 2024
- 5 min read
Macquarie Asset Management (MAM) has agreed to acquire a significant minority stake in renewables developer D E Shaw Renewables Investments (DESRI). The investment of up to approximately $US1.725bn is intended to enable DESRI to continue its growth and enhance its market-leading position. DESRI develops, owns, and operates utility-scale solar, wind, and battery storage projects throughout the United States. The company operates across all stages of a project’s life cycle, including development, construction, and operations. Additionally, DESRI has long-term PPAs in place with a diversified base of offtakers, including corporates, utilities, and co-ops in 24 states. Christopher Frost, senior managing director, Macquarie Asset Management – Real Assets, expressed excitement over investing in DESRI. David Zwillinger, chief executive of DESRI, expressed gratitude to the D E Shaw group and excitement for the future partnership with Macquarie. Financial advisors involved in the transaction include Lazard and Goldman Sachs & Co. LLC.
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