Cypress Creek Renewables has secured financial close for its groundbreaking Sundance Solar and Energy Storage project, a hybrid plant that will combine 75 megawatts (MW) of solar power with a battery storage system 50 MW/200 MWh battery storage system. Located in Elbert County, this development seeks to bolster the state’s energy infrastructure with clean and reliable sources.
Financing secured for solar plant with batteries
The financial backing amounts to US$190 million, with MUFG Bank Ltd. as lead coordinator. BNP Paribas, DNB Bank ASA and Santander are also participating, while Fifth Third Bank is contributing as a tax credit investor. This solid financial structure reflects confidence in the viability of the project and commitment to the energy transition in the United States..
Cypress Creek emphasizes that the project will boost job creation and local tax revenues during its expected 40 years of operation. Up to 250 jobs are expected to be created during the construction phase and an estimated $9.5 million in property taxes.
Partnership with CORE for local supply
The power generated will be purchased by CORE Electric Cooperative, a non-profit organization that serves more than 180,000 utilities in Colorado. This partnership will provide clean energy to some 25,000 homes, cementing the project’s role as a key part of the state’s sustainability goals.
Pam Feuerstein, CORE’s executive director, noted that this collaboration strengthens CORE’s mission to bring innovation and affordable energy options to local communities.
Social impact and community development
Beyond infrastructure, Cypress Creek has created a community working group that will decide how to distribute the $300,000 earmarked for direct investment in Elbert County. This initiative seeks to translate the project’s impact into tangible benefits for the local population.
Sarah Slusser, chief executive officer of Cypress Creek, emphasized that this development reflects the company’s long-term commitment to Colorado. The company plans to continue to invest in the state, collaborating with local stakeholders to foster economic growth through sustainable energy projects.
With construction already underway since July, the Sundance Solar and Energy Storage Sundance Solar and Energy Storage plant is expected to begin commercial operations by the end of 2026. Once operational, it will represent a stable and affordable source of clean energy for decades to come.
Source and photo: Cypress Creek Renewables
