Cypress Creek acquires 100MW early-stage development project in New york city
- Independent power producer (IPP) Cypress Creek Renewables has acquired a 100MW transmission asset in New York state from designer Carson Power, contributing to its existing New York Independent System Operator (NYISO) development portfolio.
Still in early stages of development, the project is located in Rochester as well as will certainly be co-developed with Carson Power, which will certainly be sustaining its development through privilege as well as community engagement.
The solar plant is anticipated to be functional in 2026.
With the acquisition of this New york city project, the IPP remains to expand its solar and power storage portfolio in the United States. It shut US$ 450 million financial debt facility in April, followed by a further US$ 125 million debt facility in May, to support its project development plans in the nation.
On the other hand, the state of New york city recently granted 22 large-scale solar projects with a combined capacity of 2.4 GW of which Cypress Creek Renewables was among the companies granted a contract.
Until now the IPP has 35 solar PV and power storage space projects in operation in the state and is currently establishing an extra 55 distributed generation, utility-scale and standalone power storage plants, while at the national level it has a pipeline of 15GW, it stated in a statement.
Emilie Flanagan, Chief Executive Officer at Carson Power, claimed: "We are thrilled to kick-off co-development of this 100MW solar project in New york city with a partner like Cypress Creek. Their deep expertise in utility-scale development, funding, possession and also operations in New york city will be instrumental to bringing this asset to NTP [notification to proceed]".
Moreover, Cypress Creek was among a team people solar companies to develop a getting consortium that committed to investing US$ 6 billion on purchasing 6-7GW of crystalline silicon solar modules yearly to assist speed up domestic PV production in the US.