Cypress Creek Renewables, a solar and energy storage company, is currently building a 270 MW solar project in Dimmit County, Texas.
The company closed financing for the Shakes solar project and expects to reach commercial operation in the second half of 2022. Cypress Creek will be the long-term owner and operator of the project.
“At 270 MW, Shakes is a cornerstone project for Cypress Creek Renewables and demonstrates our commitment to executing major projects in support of the energy transition,” said Sarah Slusser, CEO of Cypress Creek. “We are delighted to once again join forces with Morgan Stanley, Nord/LB and Rabobank, and new partners for us, Axpo US, Helaba and National Bank of Canada, to complete financing for a project that will generate enough power for nearly 40,000 homes annually. As a long-term owner and operator of Shakes, we also look forward to building our relationships with the entire community.”
The energy and renewable energy credits generated by the project have been sold to Axpo US, a subsidiary of Axpo Solutions, an international developer of custom energy solutions for its customers.
Cypress Creek has developed 1,380 MW of solar power in the Texas market. The Shakes project is expected to create 320 to 450 construction jobs and generate $35 million in new property tax revenue over the lifetime of the project for local schools and communities.
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