More in News, Power Plants, Projects, Markets & Finance, Financial & Legal, Americas

Cubico to buy 580MW portfolio from Cypress Creek Renewables

Cypress Creek will stay on for EPC and O&M duties. Source: Cypress Creek Renewables.

Cypress Creek will stay on for EPC and O&M duties. Source: Cypress Creek Renewables.

Cubico Sustainable Investments will acquire a 580MW portfolio of solar projects from US developer Cypress Creek Renewables.

The projects mark Cubico’s first in the US market.

One of the five projects has already reached financial close. The sites are split across Texas and the Carolinas.

"We are very proud of having reached this ground-breaking milestone to enter the US market that further consolidates Cubico in the Americas, after having created one of the leading renewable energy platforms in Latin America,” said Ricardo Diaz, head of Americas at Cubico. “We now plan to continue consolidating our presence in the market supporting developers to achieve their clean energy ambitions in the country," he added.

The remaining four projects will close in the first half of 2019 with all expected to be operational by the end of 2020. In addition to debt and tax equity, Cubico is putting in US$165 million of equity.

Cypress Creek will stay on as the engineering, procurement and construction provider as well as fulfilling operations & maintenance duties.

Tags: us, usa, pv power plants, finance, investment, cypress creek renewables, cubico, north carolina, south carolina, texas

PV ModuleTech

  • Oct 22 - Oct 23, 2019
  • Penang, Malaysia
  • PV Tech Event

Understand fully the technical and logistical supply chains that determine the production and performance of solar modules, including all related factors impacting quality, reliability & bankability.

PV ModuleTech

Solar & Storage Finance USA

  • Oct 29 - Oct 30, 2019
  • New York City, USA
  • PV Tech Event

Now in its sixth successful year, Solar & Storage Finance USA is the only event which looks at raising capital for solar, storage and collocated solar and storage projects in the USA. The conference will help delegates understand how providers are evolving propositions for storage and how they can access capital for standalone solar or storage, and co-located projects. Meet debt providers, funders, utilities, corporate off takers and blue chip energy firms with capital to invest and developers with credible pipelines.

Solar & Storage Finance USA

Also read...

Comments