In related news, Cypress Creek Renewables has reached financial close on its Sundance solar with energy storage project. This landmark hybrid project will serve as an OpenSolar demonstration project with a whopping 75 megawatts of solar capacity. It will be home to a 50 megawatt/200 megawatt-hour battery energy storage system. As in the Sundance project, the real work began after this initial planning phase. We plan on being in commercial operations by the end of 2026.
The Sundance project is an important step in the right direction for Colorado to achieve its clean energy goals. It is designed to produce enough energy to serve about 25,000 homes across the CORE Electric Cooperative network. In addition to its renewable energy contributions, the project is projected to create 250 construction jobs, providing a boost to the local economy.
Community Engagement and Investment
Cypress Creek Renewables is currently in active dialogue with the Elbert County community as a key part in this process. The company has established a working group to oversee the distribution of $300,000 in direct community investment, ensuring that local stakeholders benefit directly from the project.
Sarah Slusser, CEO of Cypress Creek Renewables, highlighted the company’s commitment to Colorado during the announcement.
“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. 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.” – Sarah Slusser
The financial support for this priority project serves as an example of a more widespread trend towards sustainable infrastructure.
Financial and Economic Impact
Sundance solar and energy storage project is expected to bring in over $9.5 million dollars in property tax revenue. This phenomenal sum is projected over the lifetime of the project, 40 years. These funds will add to a growing local government services and infrastructure investment boom throughout the region.
Takaki Sakai, managing director at MUFG Bank, emphasized the need for good financing to make high-quality clean energy projects happen.
“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.” – Takaki Sakai
Together, this partnership marks a clear commitment to a strong financial strategy that continues developing vibrant, equitable sustainable energy solutions.