Cypress Creek closes US$ 125m debt facility to fund solar, storage pipeline
- Independent power producer (IPP) Cypress Creek Renewables has actually closed a US$ 125 million debt facility to fund the expansion of its solar and storage space pipe.
It is the second time the IPP as well as Investec have actually collaborated, with the later functioning as a working with lead along with Credit Agricole, East West Bank, National Bank of Canada, Norddeutsche Landesbank, Silicon Valley Bank and Toronto-Dominion Bank.
It adheres to Cypress Creek closing a US$ 450 million debt facility in March, with Australian investment manager Queensland Investment Corporation (QIC) serving as a joint lead arranger, additionally agreed to help finance the IPP's pipeline of solar and also energy storage space projects in the US.
Rebecca Cranna, COO of Cypress Creek, said: "Having partners who are likewise devoted to our mission to develop premium quality solar and also storage projects for a much more lasting future is something to celebrate."
Both debt facilities come less than a year after Cypress Creek was gotten by exclusive equity firm EQT, a bargain the IPP said would certainly aid support expanding its fleet of operating possessions as well as scaling its operations and maintenance organization.
Last March, Cypress Creek announced a 315MW bifacial module procurement from Maxeon to make use of in projects in the US states of Washington and also Texas.