Arkansas 2.5 GW solar, 2.9 GWh battery storage project changes hands

US independent power producer Cypress Creek Renewables has acquired the Steel River project from Swift Current Energy, which is currently under development in Mississippi County, Arkansas.

Once Cypress Creek completes development, Steel River will comprise 2.45 GW of solar generation paired with 720 MW/2.9 GWh of battery storage, making it one of the largest solar-plus-storage projects in the United States. The acquisition will also double Cypress Creek’s operating and under-construction portfolio to nearly 7 GW.

“Steel River reflects the scale of infrastructure required to meet America’s rapidly growing electricity demand,” said Jeffrey Meigel, Chief Investment Officer at Cypress Creek. “Our platform is built to develop, finance and operate projects of this magnitude. This acquisition marks an important step in strengthening Cypress Creek’s role as a leading energy solutions provider and long-term owner of large-scale US energy infrastructure.”

According to the US Energy Information Administration, solar and battery storage accounted for approximately 85% of all new US electricity generation capacity added in 2025. Steel River is expected to become one of the nation’s most significant new energy projects. In addition to delivering cost-effective solar electricity, the project’s battery storage facility will improve grid reliability, help meet peak electricity demand, stabilize prices, and reduce the risk of brownouts and blackouts in the region.

The Steel River project represents a major investment in Mississippi County and is expected to support American energy reliability, security and affordability. New annual tax revenues are estimated to exceed $300 million over the life of the project, directly benefiting local schools and providing funding for public safety and infrastructure improvements, Cypress Creek said in a statement.

The facility will be constructed using American-made structural steel and domestically manufactured solar panels, with additional equipment sourced from Arkansas-based suppliers wherever possible. Construction is expected to create approximately 700 full-time jobs, along with 19 permanent positions once the facility is operational.

The project will be developed and built in three phases, each consisting of approximately 815 MW of solar generation paired with 240 MW/960 MWh of battery storage capacity. All phases are expected to enter service by 2029.