SANTA MONICA, Calif., July 25, 2022 /PRNewswire/ — Cypress Creek Renewables has added 400MW/600MWh to its storage portfolio after acquiring four Texas Black Mountain Energy Storage (BMES) stand-alone energy storage projects. The projects, each 100 MW, are located across the Electric Reliability Board of Texas (ERCOT) and are currently under development.
Cypress Creek will continue project development, rights, engineering, procurement, financing, construction and will operate the 400 MW/600 MWh portfolio upon completion. All four projects are expected to be commissioned in 2024.
Nationally, Cypress Creek has developed over 11 GW of solar power to date and has a 15 GW solar and storage pipeline. In the ERCOT market, Cypress Creek has developed 5 GW of solar and storage assets, bringing resilience and flexibility to the grid.
“ERCOT is an incredibly dynamic energy market, and stand-alone storage assets will continue to provide opportunities to increase grid reliability through flexible and dispatchable resources,” said Jack Murray, director of mergers and acquisitions at Cypress Creek. “Black Mountain has been an exceptional partner to work with and we are excited to put our development, EPC and financing expertise behind these assets to get them over the finish line, affirming our commitment to developing resources resilient renewable energy sources throughout Texas.”
“It was a pleasure to work with the team at Cypress Creek, and we are thrilled to have helped them on their journey to becoming one of the premier renewable energy developers in the United States,” said Rhett Bennett, CEO of BMES. “Cypress not only understands the electricity market, but also the critical importance of energy storage. They are committed to renewable energy, and we are excited about the potential of these projects and the immense positive impact they will bring to the grid.
The transaction was facilitated by the LevelTen Energy Asset Marketplace, connecting renewable energy projects and buyers to the execution of the transaction.
“It was an honor to support this transaction through LevelTen Asset Marketplace, which brings together project developers and investors, and provides the online tools they need to complete asset sales,” said Patrick Worral, Vice President of Asset Marketplace, LevelTen Energy. “Black Mountain Energy Storage and Cypress Creek Renewables are industry leaders, and we look forward to following the progress of the development of this portfolio of storage projects.
About Cypress Creek Renewables
Cypress Creek Renewables is a leading renewable energy developer and independent power producer. It develops, finances, owns and operates large-scale and distributed solar and energy storage projects across United States with a mission to power a sustainable future, one project at a time. Since its inception, Cypress Creek has developed over 11 GW of solar projects. Today it has 2 GW of solar power and has a 15 GW pipeline. Cypress Creek’s leading O&M services company operates and maintains 4 GW of solar projects for customers in 19 states. For more information on Cypress Creek, please visit www.ccrenew.com.
About Black Mountain Energy Storage
Black Mountain Energy Storage is a team of energy experts that develops and operates battery energy storage facilities. Founded in 2021, BMES was created to bring reliable, emission-free energy storage capacity to the power grid to improve system reliability and enable greater reliance on renewable energy generation. It focuses on investing in communities and markets where energy storage will deliver long-term value to stakeholders.
SOURCE Cypress Creek Renewables