CORRECTING and REPLACING D. E. Shaw Renewable Investments Announces Start of Construction of the Gray Hawk Solar Project

NEW YORK–(BUSINESS WIRE)–The following release reflects corrections to the first paragraph:

D. E. SHAW RENEWABLE INVESTMENTS ANNOUNCES START OF CONSTRUCTION OF
THE GRAY HAWK SOLAR PROJECT

D. E. Shaw Renewable Investments, L.L.C. (DESRI), together with its
development partner, Torch Clean Energy, LLC (Torch), announced today
the closing of construction financing and start of construction on the
Gray Hawk Solar Project (Gray Hawk). Gray Hawk is a 46 MW-ac facility
located near the town of Kingman, Arizona. The project is expected to
reach commercial operation in Q2 2018.

“We are very excited to add another project to our clean energy
portfolio in Arizona,” said Bryan Martin, CEO of DESRI. “We look forward
to working with our partners on Gray Hawk to add to the state’s
renewables footprint.”

Gray Hawk will produce power for UNS Electric, Inc. (UNS) a subsidiary
of UniSource Energy Services (UES) under a 25-year power purchase
agreement. The facility is expected to generate roughly 150 million
kilowatt hours of power each year—enough clean energy to power
approximately 11,000 homes or take almost 22,000 cars off the road,
according to metrics provided by the Environmental Protection Agency.

“With this project, the management team at UES continues their national
lead in solar while working to reduce emissions and ensure a fixed,
low-cost supply of energy for the customers of UES,” said Jonathan
Kilberg, President of Torch Clean Energy.

“We expect to surpass the state’s Renewable Energy Standard requirements
and our own renewable goals years in advance with Gray Hawk,” said Ted
Burhans, Manager of Renewable Energy at UES. “We are pleased to partner
with DESRI and Torch on a renewable resource that will help us to
provide sustainable, reliable, and affordable service to our customers.”

Financing for the construction of the project was provided by Santander
and Siemens Financial Services. In addition, Citi provided a commitment
for tax equity financing.

Swinerton Renewable Energy (Swinerton) will serve as the engineering,
procurement, and construction contractor. In addition, SOLV, a Swinerton
company, will provide ongoing operations and maintenance services to the
facility once it’s operational.

"Swinerton and DESRI are united by a common goal to provide a lasting
economic stimulus to the communities in which we build," said George
Hershman, Senior Vice President and General Manager of Swinerton
Renewable Energy. "Our team is proud to partner with DESRI to bring not
only clean energy but also jobs to Kingman and the surrounding area."

About D. E. Shaw Renewable Investments, L.L.C.

D. E. Shaw Renewable Investments, L.L.C. (DESRI) and its affiliates
acquire, own, and manage long-term contracted renewable energy assets in
North America. DESRI's portfolio of renewable energy projects currently
includes 28 wind and solar projects that represent more than 1,350 MW of
aggregate capacity. DESRI is a member of the D. E. Shaw group, a global
investment and technology development firm with more than $43 billion in
investment capital as of July 1, 2017, and offices in North America,
Europe, and Asia. Please visit www.deshaw.com
for more information about the D. E. Shaw group.

About Torch Clean Energy, LLC

Torch Clean Energy is a privately-held renewable energy development
company focused on the development and financing of renewable energy
facilities in the Southwest United States. To date, Torch Clean Energy
has developed over 500 Megawatts (MW) of operating renewable energy
projects including the 101 MW Red Horse Facility, one of the largest
wind-solar hybrid systems in the United States, located in Cochise
County, Arizona.

About Swinerton Renewable Energy

Swinerton Renewable Energy (SRE) offers engineering, procurement,
construction, and SOLV® services for solar photovoltaic plants
throughout North America to a diverse range of clients. Over 125 years
of building landmark projects, Swinerton has forged a reputation for
unsurpassed safety, workmanship, on-time delivery, and customer
satisfaction. Today, our team takes pride in building cost-effective
solar systems that will generate reliable, clean power for many years to
come. SRE has delivered over 2.5 GW of solar projects and our SOLV team
manages over 4 GW of PV plants. Learn more about Swinerton Renewable
Energy at swinertonrenewable.com.

This press release is provided for the reader’s information only and
does not constitute investment advice or convey an offer to sell, or the
solicitation of an offer to buy, any securities or other financial
products.

Please also note that this press release has not been updated since
its dateline for any information contained in it that may have changed,
including any beliefs and/or opinions. In addition, no assurances
can be given that any aims, assumptions, expectations, and/or goals
described in this release will be realized or that the activities or any
performance described herein did or will continue at all or in the same
manner as at the time of the press release.

Please visit www.deshaw.com for current and additional information
about the D. E. Shaw group.

Contacts

Kekst
New York
Anntal Silver, 212-521-4849
[email protected]