Cypress Creek secures USD 450m for US solar projects
Solar system. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.
US company Cypress Creek Renewables announced on Tuesday it has obtained USD 450 million (EUR 386m) in financing from a group of investors led by Singapore-based Temasek.
Cypress Creek said in a press statement it will use the fresh facility to support the ongoing development, construction and acquisition of solar projects in the US. The company gave no details about specific schemes.
“This agreement accelerates our mission to put as much solar in the ground as soon as possible,” said Matt McGovern, Cypress Creek Renewables CEO.
A month ago, Cypress Creek announced it had partnered with United Renewable Energy LLC to co-develop 12 solar-plus-storage projects in North Carolina.
Hawk Hill Group has provided advisory services to Temasek, while MVP Capital offered investor identification services to Cypress Creek.