Impartial energy producer (IPP) Cypress Creek Renewables has closed a US$216 million financing spherical for its Zier Photo voltaic and Storage venture in Texas.
Positioned in Kinney County, the venture is a 208MW photo voltaic plant with a 40MW/80MWh battery power storage system (BESS). As soon as accomplished, it is going to add renewable power capability and battery storage to the Texas grid. Building commenced concurrent with the monetary closing.
German business financial institution Norddeutsche Landesbank Girozentrale acted as coordinating lead arranger, lender and letter of credit score issuing financial institution alongside Rabobank, Nationwide Financial institution of Canada and the North American Growth Financial institution as joint lead arrangers.
Cypress Creek mentioned it at present had near 2GW of photo voltaic PV developed in Texas, making it one of many main photo voltaic corporations within the state.
The corporate was a founding member of the ‘US Photo voltaic Purchaser Consortium’ that’s searching for certified producers that may decide to a long-term partnership to provide as much as 7GW of photo voltaic modules per 12 months ranging from 2024 in an try to catalyse the buildout of a US PV manufacturing base.
Cypress Creek CEO Sarah Slusser spoke with PV Tech Premium following the announcement in regards to the newly fashioned Consortium, its targets, market challenges and the potential benefits it holds for US manufacturing and venture growth.
