Santa Monica, California.Present May 5, 2025 / Prnewswire/ -Cypress Creek Renewables, a leading developer, owner and operator of solar and energy storage projects, announced the financial conclusion and construction of the start of his 104 -MW -OSTREA solar project in Yakima County, Washington.
After completion, Ostrea Solar will generate enough electricity to operate between 15,000 and 16,000 average Washington Houses annually that contribute to the region's Clean Energy destinations and support the broader transition to renewable power.
“We are enthusiastic about having secured the financing for Ostrrea, our first project to reach this milestone Washington State“said Sarah SlusserCEO from Cypress Creek Renewables. “Thanks to our strong partnerships, we fulfill our commitment to the state and bring the advantages of this project – and those in our pipeline – for the communities that you will organize.”
Construction began in February of this year with the Solar Division (PCL Solar) from PCL Construction, which acted as an EPC contractor. The project is expected to create around 250 construction work and deliver an estimated delivery 15 million dollars In tax revenue Yakima County during his operational lifespan.
The Mufg Bank acted as a coordinating lead arranger for the construction financing of about about $ 150 million In addition to BNP Paribas, DNB Bank ASA and Santander. The US Bank acts as a tax capital investor of the project.
“This transaction increases MUFG's commitment to finance high -quality assets for renewable energies that offer long -term value” Takaki SakaiManaging Director at MufG Bank. “Cypress Creek Renewables has shown strong execution skills and a robust pipeline, and we look forward to supporting their persistent growth with a tailor-made financing solution that coincides with our strategic focus on sustainable infrastructure and energy transition investments.”
Ostrrea Solar is expected to reach commercial operation in mid -2026.
Via Cypress Creek Renewable energies
Cypress Creek Renewables is a leading developer for renewable energies and independent energy producers. It develops, financed, owns and operates the supply scale and distributed project and energy storage projects over the entire energy storage The United States With the mission to provide a sustainable future, one project. Cypress Creek has commercialized 12 GW solar projects since its foundation. Today it has more than 2 GW solar and has a 20 -GW solar and storage pipeline. Cypress Creek Solutions, the leading O&M service business from Cypress Creek, operates and maintains 5 GW solar projects for customers in 24 states.
Source Cypress Creek Renewable energies
