Cypress Creek closes US$450m debt facility to fund growth of solar, storage pipeline

Facebook
Twitter
LinkedIn
Reddit
Email
A 3MW project in North Carolina operated by Cypress Creek. Image: Cypress Creek Renewables.

Independent power producer (IPP) Cypress Creek Renewables has closed a US$450 million debt facility to fund the expansion of its solar and energy storage project pipeline in the US.

Australian investment manager Queensland Investment Corporation (QIC) acted as a joint lead arranger alongside leading lenders including Canada Pension Plan Investment Board and fund manager CarVal Investors. Crédit Agricole was sustainable structuring agent to implement the sustainability linkage in the facility.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Including a US$250 million accordion option, the facility is structured at a holding company level and will be used to refinance existing indebtedness and to fund the development and construction of Cypress Creek’s pipeline.

“We are thrilled to tap into more efficient capital to fuel our ambitious growth plans to make the planet more sustainable,” said Sarah Slusser, CEO of Cypress Creek.

Alongside a 12GW development pipeline, the IPP operates a 1.7GW fleet of solar assets and provides operations and maintenance (O&M) services for 4GW of PV projects across the US.

The financing comes after Cypress Creek was acquired last year by private equity firm EQT, in a deal that the IPP said would help it expand its fleet of operating assets while scaling its O&M business.

It was announced last month that the company will procure 315MW of Maxeon Solar Technologies’ bifacial Performance line solar modules for use in projects in Washington and Texas.

The new facility represents QIC’s first investment by its new infrastructure debt platform. 

Lindsay Scully, QIC principal – infrastructure debt, said Cypress Creek “has one of the most attractive operating portfolios, so we see it as an ideal partner for our capital”.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

July 15, 2025
D.E. Shaw Renewable Investments (DESRI) has started construction at a 150MW solar-plus-storage project in the US state of New Mexico.
July 14, 2025
Australian renewables developer Edify Energy has submitted plans for a 300MWac solar-plus-storage site in Victoria to Australia’s Environment Protection and Biodiversity Conservation (EPBC) Act.
July 14, 2025
Elements Green has secured €80 million (US$93.5 million) in financing from Danish investment firm Copenhagen Infrastructure Partners (CIP).
July 14, 2025
OpenSolar has launched a new model to help US rooftop solar installers reduce costs and thrive despite the loss of the 30% IRA tax credit.
July 14, 2025
Analyst Wood Mackenzie has forecast that solar PV and wind installations in the US will be 100GW lower than expected between 2025 and 2030 with the removal of Inflation Reduction Act (IRA) incentives.
July 10, 2025
German renewables company BayWa r.e. has secured a €3 billion (US$3.5 billion) loan for 'operational initiatives and pipeline expansion.'

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK