Cypress Creek locks NADBank debt for 208-MW solar project in Texas

One of Cypress Creek Renewables' solar-plus-storage installations in North Carolina. Photo: Lockheed Martin/BusinessWire.

August 17 (Renewables Now) - US renewable energy plants developer and operator Cypress Creek Renewables has secured USD 46.9 million (EUR 46.1m) in debt funding to back the construction and operation of a 208-MW solar park with battery storage in Texas.

The loan was extended by the North American Development Bank (NADBank), the lender said on Tuesday.

Cypress Creek’s Zier Solar and Energy Storage Project will be located in Texas’ Kinney County, with its construction due to begin in the autumn. Around 225 jobs are expected to be created during the construction phase, the developer estimates.

Once up and running, the photovoltaic (PV) park is anticipated to generate around 414.3 GWh of electricity in the first year of operation, or enough to cover the consumption of 30,286 homes. The plant will be coupled with a 40-MW/80-MWh battery energy storage system, which will store its output and electricity from the Electric Reliability Council of Texas (ERCOT) grid and will deliver up to 13.5 GWh annually.

To date, Cypress Creek has developed more than 11 GW of solar projects and currently has 2 GW of plants in operation, as well as a development pipeline totalling 15 GW.

(USD 1.0 = EUR 0.983)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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