Cypress Creek Renewables Announces Financial Close of Hybrid Solar and Storage Project in Colorado

Cypress Creek Renewables, a leading developer, owner, and operator of solar and energy storage projects, announced the financial close of its Sundance Solar and Energy Storage hybrid project in Elbert County, Colorado. The project will feature 75MWac of solar capacity paired with a 50MW / 200MWh battery energy storage system.

Once operational, Sundance Solar and Energy Storage will deliver enough energy into the CORE Electric Cooperative system to power about 25,000 Colorado homes, contributing to the state's clean energy goals.

"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."

Construction mobilized in July of this year with McCarthy Building Companies serving as the EPC contractor. The project is expected to create up to 250 construction jobs and deliver more than $9.5M in property tax revenue over the project's anticipated 40-year operational life. Cypress Creek has established a community working group in Elbert County to guide the allocation of $300,000 in direct community investment, ensuring meaningful local impact.

MUFG Bank Ltd. (MUFG) served as coordinating lead arranger for approximately $190 million in construction financing, joined by BNP Paribas, DNB Bank ASA, and Santander. Fifth Third Bank is serving as the project's tax equity investor.

"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"

The Sundance Solar and Energy Storage project is expected to reach commercial operation by late 2026, delivering clean, reliable energy to Colorado for decades to come.

Cypress Creek Renewables | https://ccrehttp://new.com/

CORE Electric Cooperative | www.core.coop

MUFG Americas | www.mufgamericas.com