A huge Arkansas solar + storage project locks in $3.5B in financing

Cypress Creek Renewables secured $3.5 billion in financing for its solar and energy storage project in Arkansas on March 18, 2024. This project, located in Lafayette County, is slated to become one of the largest solar-plus-storage facilities in the United States. The financing includes $1.7 billion in tax equity and $1.8 billion in debt. The project is expected to generate approximately 1.1 gigawatts (GW) of solar power and 3.9 gigawatt-hours (GWh) of energy storage capacity. Construction is scheduled to begin in the third quarter of 2024, with commercial operation anticipated by the fourth quarter of 2026. The project aims to provide clean energy to over 200,000 homes annually. This development marks a significant investment in renewable energy infrastructure for Arkansas and the broader region, contributing to grid reliability and carbon emission reduction goals.