D. E. Shaw Renewable Investments, L.L.C. (DESRI) announced the completion of the Forbes Street solar project. The 3.7 MW-DC project was developed by an affiliate of Hecate Energy (Hecate) and CME Energy (CME) in East Providence, Rhode Island, and was acquired by an affiliate of DESRI in partnership with Bright Plain Renewable Energy (BPRE) in 2013.
SolBright Renewable Energy (SolBright) served as the engineering, procurement, and construction contractor, and will continue to provide operations and maintenance services to the facility. The project is located on the site of the former Forbes Street municipal landfill, which it leases from the City of East Providence under a long-term lease agreement. The landfill was capped in 2013 after lying dormant for more than three decades. The project is expected to produce approximately 5,000 MWhs of clean energy per year for customers of Narragansett Electric Company, a subsidiary of National Grid.
“The completion of the Forbes Street project is a testament to the partnership between DESRI, Hecate, CME, SolBright, BPRE, and the City of East Providence,” said Bryan Martin, managing director and head of U.S. growth and buyout private equity at the D. E. Shaw group.
Bill Martin, President of CME, said, “We are excited to have transformed an unproductive landfill into a superb renewable energy facility after years of development.”
According to an analysis by Hecate, the project created 40 construction jobs in Rhode Island and two permanent positions supporting its continued operation. Nick Bullinger, COO of Hecate, said, “Hecate is delighted to see the Forbes Street project to completion, and appreciates the hard work of all our partners in Rhode Island to finalize this project.” Patrick Hassell, Managing Director of SolBright, also pointed out, “SolBright is pleased to have built this project on time and within budget for our partners. We look forward to collaborating on other projects to bring more world-class renewable energy to Rhode Island.”
