D.E. Shaw Renewable Investments (DESRI), a New York-based renewable energy investor and operator, has secured a $129 million preferred equity investment to finance its 250 MW AC solar portfolio in West Texas. The portfolio comprises two utility-scale projects that are intended to serve the region’s growing industrial power demand. DESRI has stated that the transaction strengthens its position as both an asset owner-operator and a capital provider in the US renewable energy market. The company has already developed and constructed more than 8 GW of clean energy projects across multiple states. Earlier this year, DESRI also commenced construction of the 150 MW Santa Teresa Solar and 600 MWh Storage project in New Mexico, supported by EPC contractor SOLV Energy and US-made BESS supplied by LG Energy. DESRI's total renewable portfolio now exceeds 10 GW across 70 solar and wind assets. King & Spalding LLP was appointed as legal advisor for the transaction, which DESRI said will ensure timely construction and advance its national clean energy strategy.