- Press Releases
September 23 (Renewables Now) - US renewable energy plants developer and operator Cypress Creek Renewables has inked a deal to offload a 45-MW portfolio of community solar projects in Illinois to solar and storage developer Nexamp Inc.
The bundle is comprised of 15 separate community solar projects located on the territories of local utilities ComEd and Ameren Corp (NYSE:AEE).
No financial details about the deal were disclosed.
Scheduled to commence power generation by the autumn of 2023, the assets are expected to produce enough renewable energy to meet the demand of about 6,000 average homes and offset some 25,500 metric tonnes of carbon dioxide (CO2) annually.
Commenting on the deal, Nexamp's chief strategy officer John Murphy said that the company has "worked hard to be an impact player in Illinois’ clean energy future" and is "committed to being an enthusiastic partner in realising Illinois’ renewable employment and deployment goals".
In addition to generating clean electricity, Nexamp and Cypress expect that these solar projects will create other community benefits such as increasing the number of local construction jobs and bringing millions in new property tax revenue.