in the news
DSD Breaks Ground on 8.4 MW Solar Portfolio with Caesars Entertainment in Atlantic City, NJ
SCHENECTADY, N.Y. – April 26, 2022 – DSD Renewables (DSD) and Caesars Entertainment (NASDAQ:CZR), have broken ground on an 8.4 MW solar portfolio spanning three Caesars properties in Atlantic City, New Jersey. The projects will help propel Caesars toward its goal of reducing greenhouse gas emissions by 100 percent before 2050.
The portfolio includes two solar canopies (1.7 MW and 886 kW) at Caesars Atlantic City, two canopies (1.93 MW and 1.94 MW) and a 913 kW rooftop system at Harrah’s Resort Atlantic City, and a 1.01 MW canopy at the Tropicana Atlantic City. In addition to generating clean energy, the canopies will reduce snow removal costs and provide shaded parking for staff and customers, while the rooftop systems limit UV exposure to the roof, helping extend its lifespan and reduce cooling needs.
This solar portfolio will help Caesars reduce greenhouse gas emissions by 100 percent before 2050.
Projected to be complete in late 2022, the installations are expected to generate 10,425,453 kWh of clean, renewable energy annually for the host sites – enough energy to power 931 homes each year. The renewable energy generated is expected to avoid 8,144 tons of carbon dioxide (CO2) annually, the equivalent to removing 1,592 gas-powered cars from the road each year or planting 122,167 trees.
“We’re thrilled to help a major player in the hospitality and casino entertainment industry reduce its environmental footprint and move one step closer to its ambitious sustainability goals,” says Dan O’Brien, Vice President of Commercial Origination at DSD. “Our expertise in engineering and installing customized canopies, along with our in-house project financing capabilities, made us a perfect fit for these challenging and complex projects, and we look forward to working with Caesars on more projects in the future that will bring value to their business and the communities in which it operates.”
The existing structural layout, building height, wind speed, exposure, and risk category of the sites created added complexity that required highly customized engineering and construction expertise. DSD’s in-house canopy team designed tailored structural connections that will be used to secure the solar arrays, allowing for all steel and electrical systems to be elevated and protected from future storms.
“We are committed to the communities we call home by exploring and implementing plans to reduce our environmental footprint,” says Eric Dominguez, SVP of Engineering & Asset Management at Caesars Entertainment. “The heart of our CodeGreen environmental strategy is our ability to continuously improve our business and environmental performance and leveraging our expanding partnership with DSD enables us to do just that.”
DSD and Caesars Entertainment worked closely with the Casino Redevelopment Authority (CRDA) to ensure the projects would positively benefit Atlantic City and the surrounding community.
“We are excited to break ground on our new solar panel portfolio today at Tropicana, Caesars, and Harrah’s Resort – a critical step in our CodeGreen strategy in Atlantic City region,” explained John Koster, Regional President for Caesars Entertainment’s Eastern Division. “Our Caesars Entertainment Atlantic City resorts are committed to being leaders in environmental sustainability, as we work toward reducing our environmental footprint and aim to create more clean energy in the market.”
In addition to developing and financing the installations, DSD will serve as long term owner and operator of the systems. DSD and Caesars Entertainment are exploring solar projects located at other Caesars destinations across California, Illinois, Maryland, and Nevada.
About DSD Renewables
DSD Renewables (DSD) is transforming the way organizations harness clean energy. With unparalleled capabilities including development, structured financing, project acquisition and long-term asset ownership, DSD creates significant value for our commercial, industrial and municipal customers and partners. Backed by world-leading financial partners like BlackRock Real Assets and rooted in our founding at GE with a 120+ year legacy of innovation, our solar energy team brings a distinct combination of ingenuity, rigor, and accountability to every project we manage, acquire, own and maintain. To learn more about our industry-leading solar energy solutions, visit dsdrenewables.com and be sure to connect with us on LinkedIn and Twitter.
About Caesars Entertainment
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino-entertainment company in the U.S. and one of the world’s most diversified gaming-entertainment providers. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment’s resorts operate primarily under the Caesars®, Harrah’s®, Horseshoe® and Eldorado® brand names. Caesars Entertainment offers diversified amenities and one-of-a-kind destinations, with a focus on building loyalty and value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars Entertainment is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. If you think you or someone you care about may have a gambling problem, call 1-800-522-4700. For more information, please visit www.caesars.com/corporate.
The operation and maintenance (O&M) of a solar asset — also known as “asset management” — is key to reducing the volatility of its energy output over the long term.
DSD’s VP of Design & Engineering, Ben Jones, talks about the process of designing solar canopies, the evolution of ESG strategies, Ted Lasso, and more.
This slow evolution of energy strategies — gradually increasing renewables while still clinging on to the “tried and true” — needs to be accelerated.