Just last week, Cypress Creek announced its acquisition of the Steel River solar and storage project from Swift Current Energy. Providing additional context, this move takes an extremely important and exciting step toward advancing renewable energy development! The project in nearby Mississippi County is now projected to cost more than $4.5 billion. The current promised completion date for it is 2029. Once completed, the Steel River project will be one of the largest solar and energy storage installations in the U.S. It will include the largest 2.5GW solar plus 2.9GWh battery storage complex in the world.
The Steel River solar + storage project will develop in three exciting stages. Each phase will add close to 815MW of solar electricity generation and 240MW of battery storage capacity—make that 960 megawatt-hours. This ambitious initiative is projected to create 700 full-time equivalent construction jobs. When operational, it’ll produce 19 on-site permanent jobs.
In addition to creating energy, the Steel River project will triple annual tax revenue payments to Mississippi County. This increase will help local schools, protect public safety, and address infrastructure needs. This economic impact further reinforces the equals sign between the project’s creation and importance, beyond just generating more clean energy.
Swift Current Energy launched the development of the Steel River project in 2020. Their diligence has resulted in them being 100% permitted through each stage of the development. We recently signed a 20-year, negotiated power purchase agreement (PPA) directly with a technology company. This deal includes energy and renewable energy certificates for the first two phases of the project.
“Steel River reflects the scale of infrastructure required to meet America’s rapidly growing electricity demand. Our platform is built to develop, finance and operate projects of this magnitude.” – Jeffrey Meigel
Eric Lammers, an expanding representative from Swift Current, expressed concerns over the sale’s impact on both major companies and the Western Canadian economy.
“Steel River will be one of the largest clean energy facilities in the country, supporting energy affordability and reliability while driving local and national economic growth. Swift Current’s sale of this monumental project, our largest to date, sets up our company for continued success and growth. We are thrilled that our team has forged a strong working partnership with Mississippi County, and we look forward to continuing to work with the county on other projects in our portfolio.” – Eric Lammers
When fully online, Cypress Creek will have a total equipped portfolio of almost 7GW of energy capacity. This significant capacity showcases their deep commitment to renewable energy solutions and sustainable development.