D. E. Shaw Renewable Investments (DESRI), a member of the D. E. Shaw group, has started construction of the 71MW Red Horse 2 wind and solar project in Cochise County, Arizona, the US.

Being designed and built by Swinerton Renewable Energy, the project will integrate Vestas V110 wind turbines with Jinko Solar PV panels and Advanced Energy inverters.

Swinerton is also responsible for operations and maintenance services to the facility.

Power produced from the project will be sold to Tucson Electric Power (TEP) under a 20-year power purchase agreement (PPA).
The project would generate enough energy for over 13,500 homes in the TEP service territory.

D. E. Shaw group managing director and head of US private equity Bryan Martin said: "Red Horse 2 is one of the first combined wind and solar projects in the U.S., and we are proud to add it to the DESRI portfolio.

"We are happy to report that we’ve broken ground on the construction site and we are looking forward to completing and operating this project, so we can begin providing solar and wind energy to Arizona’s residents and businesses."

DESRI and its affiliates acquire long-term contracted renewable energy assets in North America.