Cypress Creek closes US$ 125m debt facility to fund solar, storage pipeline

May 10, 2022 01:03 PM ET
  • 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.
Cypress Creek closes US$ 125m debt facility to fund solar, storage pipeline
Image: Cypress Creek Renewables

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.

Solar Installers, Manufacturers