Cypress Creek acquires 100MW early-stage development project in New York

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The IPP is currently developing 55 solar PV and standalone storage projects in the state of New York alone. Image: Cypress Creek Renewables.

Independent power producer (IPP) Cypress Creek Renewables has acquired a 100MW transmission asset in New York state from developer Carson Power, adding to its existing New York Independent System Operator (NYISO) development portfolio.

Still in early stages of development, the project is located in Rochester and will be co-developed with Carson Power, which will be supporting its development through entitlement and community engagement.

The solar plant is expected to be operational in 2026.

With the acquisition of this New York project, the IPP continues to expand its solar and energy storage portfolio in the US. It closed US$450 million debt facility in April, followed by a further US$125 million debt facility in May, to support its project development plans in the country.

Meanwhile, the state of New York recently awarded 22 large-scale solar projects with a combined capacity of 2.4GW of which Cypress Creek Renewables was among the companies awarded a contract.

So far the IPP has 35 solar PV and energy storage projects in operation in the state and is currently developing an additional 55 distributed generation, utility-scale and standalone energy storage plants, while at the national level it has a pipeline of 15GW, it said in a statement.

Emilie Flanagan, CEO at Carson Power, said: “We are thrilled to kick-off co-development of this 100MW solar project in New York with a partner like Cypress Creek. Their deep expertise in utility-scale development, financing, ownership and operations in New York will be instrumental to bringing this asset to NTP [notice to proceed].”

Furthermore, Cypress Creek was among a group of US solar companies to form a purchasing consortium that committed to spending US$6 billion on buying 6-7GW of crystalline silicon solar modules yearly to help accelerate domestic PV manufacturing in the US.

PV Tech Premium spoke with Cypress Creek’s CEO and another consortium head to discuss the recently formed US Solar Buyer Consortium and its objectives for the country’s solar manufacturing sector, which you can read more about here.

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