Cypress Creek Renewables closes on 200 MWh Sundance solar-plus-storage hybrid

Cypress Creek Renewables has this week announced financial close of Sundance Solar and Energy Storage, its hybrid solar plus storage project located in Elbert County, Colorado, in the US. The new renewables park will pair 75 MW of solar capacity with a 50 MW / 200 MWh battery energy storage system.

Once operational, the Sundance project will feed into the CORE Electric Cooperative grid and is expected to reach commercial operation by late 2026.

Construction began in July this year, with McCarthy Building Companies acting as EPC contractor. On the finance side, MUFG Bank Ltd. served as coordinating lead arranger for approximately US $190 million in construction financing, joined by BNP Paribas, DNB Bank ASA and Santander. Fifth Third Bank is the project’s tax-equity investor. CCR noted that the transaction underlines its commitment to U.S.-based clean-energy infrastructure in Colorado.

The Sundance project comes amid broader storage-finance activity, including earlier this year when Cypress Creek Renewables raised $133 million in financing in financing for a 200 MW standalone battery in Harris County, Texas.

What they said:

“Today’s milestone underscores our long-term commitment to Colorado. Building on this success, we look forward to continuing to invest in and advance projects across the state – creating jobs, generating local tax revenue, and delivering reliable, affordable, and American-made energy to communities,” said Sarah Slusser, CEO of Cypress Creek Renewables.  “As we expand our presence, we remain committed to working closely with local leaders, community partners, and state officials to ensure future projects support economic growth and power the state’s future.”

“This hybrid solar and storage site is an integral part of our mission to improve lives and communities through choice and innovation,” said Pam Feuerstein, CEO of CORE Electric Cooperative. “We’re proud to partner on this project that will deliver local power to our members.”

“This transaction highlights our continued commitment to financing high-quality clean energy projects that deliver lasting value,” said Takaki Sakai, Managing Director at MUFG Bank. “We’re pleased to support Cypress Creek on this hybrid solar and storage project in Colorado. Their proven execution and forward-looking pipeline align with our strategic focus on sustainable infrastructure and the transition to a more resilient energy future, and we look forward to continue expanding our wonderful partnership.”