Cypress Creek Renewables reaches financial close on hybrid renewables project

The project will feature 75 MWac of solar capacity paired with a 50 MW/200 MWh battery energy storage system (BESS).

Once operational, the Sundance Solar and Energy Storage project 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.

Sarah Slusser, CEO of Cypress Creek Renewables, commented: “This 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. 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.”

Pam Feuerstein, CEO of CORE Electric Cooperative, added: “This hybrid solar and storage site is an integral part of our mission to improve lives and communities through choice and innovation. We’re proud to partner on this project that will deliver local power to our members.”

Construction mobilised in July 2025 with McCarthy Building Co. serving as the EPC contractor. The project is expected to create up to 250 construction jobs and deliver more than US$9.5 million 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 US$300 000 in direct community investment, ensuring meaningful local impact.

MUFG Bank Ltd. served as co-ordinating lead arranger for approximately US$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.

Takaki Sakai, Managing Director at MUFG Bank, concluded: “This transaction highlights our continued commitment to financing high-quality clean energy projects that deliver lasting value. 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.

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global's autumn 2025 issue

Explore the latest insights into the renewable energy sector in the autumn issue of Energy Global, out now! This edition features a regional report on the Asia Pacific from Aurora Energy Research, mapping out why the wholesale price cap is detrimental to the energy transition in India. The issue then delves into articles covering crucial topics such as digitalisation in renewables, inspection & maintenance, developments in floating offshore wind, coatings, solar optimisation and more. Contributors include Flotation Energy, DNV, Sarens, Neuman & Esser, Teknos, and more, so this issue is not one to miss!

Read the article online at: https://www.energyglobal.com/solar/21102025/cypress-creek-renewables-reaches-financial-close-on-hybrid-renewables-project/