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.

Not ready to commit yet?
  • 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

August 28, 2025
Latin America has the potential to unlock billions in clean energy investment if it aligns national policies with global sustainability goals and investor expectations.
August 28, 2025
Venture capital firm Pacific Channel has launched Fund V, which targets 10GW of solar, wind, and energy storage in New Zealand.
August 28, 2025
Developer Pacific Energy has successfully commissioned a 26MW solar-plus-storage site at the Atlas-Campaspe mine in NSW, Australia.
August 27, 2025
The governor of New Jersey, Phil Murphy, has signed a new legislation that seeks to build 3GW of new community solar by 2029.
August 26, 2025
ABO Energy has closed its first syndicated loan agreement worth €240 million (US$279.8 million) to develop and construct more wind, solar and storage project.
August 26, 2025
Daqo New Energy has posted gross losses of US$81.4 million in Q2 2025, up from losses of US$81.5 million in Q1.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines