Independent power producer (IPP) Cypress Creek Renewables has closed a US$216 million financing round for its Zier Solar and Storage project in Texas.
Located in Kinney County, the project is a 208MW solar plant with a 40MW/80MWh battery energy storage system (BESS). Once completed, it will add renewable energy capacity and battery storage to the Texas grid. Construction commenced concurrent with the financial closing.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
German commercial bank Norddeutsche Landesbank Girozentrale acted as coordinating lead arranger, lender and letter of credit issuing bank alongside Rabobank, National Bank of Canada and the North American Development Bank as joint lead arrangers.
Cypress Creek said it currently had close to 2GW of solar PV developed in Texas, making it one of the leading solar companies in the state.
The company was a founding member of the ‘US Solar Buyer Consortium’ that is looking for qualified manufacturers that can commit to a long-term partnership to supply up to 7GW of solar modules per year starting from 2024 in an attempt to catalyse the buildout of a US PV manufacturing base.
Cypress Creek CEO Sarah Slusser spoke with PV Tech Premium following the announcement about the newly formed Consortium, its objectives, market challenges and the potential advantages it holds for US manufacturing and project development.
