Cypress Creek Renewables reaches financial close on hybrid renewables project

Core Insights - Cypress Creek Renewables has achieved financial close on the Sundance Solar and Energy Storage hybrid project in Elbert County, Colorado, which includes 75 MWac of solar capacity and a 50 MW/200 MWh battery energy storage system [1][4] - The project aims to provide energy sufficient to power approximately 25,000 homes in Colorado, supporting the state's clean energy objectives [2] Company Commitment - The CEO of Cypress Creek Renewables emphasized the company's long-term commitment to Colorado, highlighting plans for further investments that will create jobs, generate local tax revenue, and provide reliable energy [3] - The project is expected to create up to 250 construction jobs and generate over US$9.5 million in property tax revenue over its 40-year operational life [3] Community Engagement - Cypress Creek has established a community working group in Elbert County to oversee the allocation of US$300,000 in direct community investment, ensuring a positive local impact [3] Financial Aspects - MUFG Bank Ltd. coordinated approximately US$190 million in construction financing for the project, with participation from BNP Paribas, DNB Bank ASA, and Santander [4] - Fifth Third Bank is acting as the tax equity investor for the project [4] Future Outlook - The Sundance Solar and Energy Storage project is projected to commence commercial operations by late 2026, contributing to Colorado's clean energy supply for decades [5]