Cypress Creek Partners with Nexamp on Illinois Community Solar Portfolio
SANTA MONICA, CA; September 20, 2022 – Cypress Creek Renewables announced today that it reached an agreement to sell a 45MW portfolio of Illinois solar projects to Nexamp. The portfolio consists of 15 separate community solar projects across ComEd and Ameren utility territories. The projects are anticipated to be operational by the Fall of 2023.
“It has been a pleasure to strengthen our relationship with Nexamp as we work to bring low-cost, reliable clean energy to the people of Illinois,” Sarah Slusser, CEO of Cypress Creek Renewables said. “Cypress Creek is committed to helping Illinois achieve its ambitious goals established under the Climate and Equitable Jobs Act through these projects and dozens more in development. The passing of the Inflation Reduction Act has made these goals even more attainable and will bring even greater benefits to local communities.”
Once complete, the projects will generate enough renewable energy to meet the needs of approximately 6,000 average homes while offsetting 25,500 metric tons of CO2 annually, the equivalent of taking 4,800 cars off the road. The projects are also expected to create significant local construction jobs and generate millions in new property tax revenue and other community benefits over their operational life.
“Nexamp has worked hard to be an impact player in Illinois’ clean energy future, and we’re proud to have earned the trust of the talented Cypress Creek team to bring this impressive portfolio online,” said John Murphy, Chief Strategy Officer, Nexamp. “Illinois has taken decisive action to cement itself as a national climate leader and now serves as an emerging model for a truly diversified clean energy sector. Nexamp is committed to being an enthusiastic partner in realizing Illinois’ renewable employment and deployment goals, delivering direct benefits to Illinoisians in every community.”
Nexamp’s industry-leading community solar program is already serving thousands of Illinois ratepayers, and thousands more will be eligible to enroll in this portfolio starting in 2023. With no credit checks, no fees to enroll, no long-term contract and no equipment to install, subscribers can begin saving as soon as the project goes live. To learn more, visit https://www.nexamp.com/community-solar/.
About Cypress Creek Renewables
Cypress Creek Renewables is a leading renewables developer and independent power producer. It develops, finances, owns, and operates utility-scale and distributed solar and energy storage projects across the United States with a mission to power a sustainable future, one project at a time. Since inception, Cypress Creek has developed 12GW of solar projects. Today it owns 2GW of solar facilities in operation and has a 16GW development pipeline. Cypress Creek’s leading O&M services business operates and maintains 4GW of solar projects for customers across 23 states. For more information about Cypress Creek, please visit cypresscreekenergy.com.
About Nexamp
Nexamp is leading the transformation to the new energy economy with proven solar and storage solutions that make clean energy more accessible for our customers and partners. Our comprehensive solar and energy storage capabilities—including project development and acquisition, design, construction, and operations—enable clean energy savings and benefits for more customers. Nexamp’s industry-leading community solar platform makes solar an option for anyone, offering guaranteed savings on annual electricity costs. With more than 1 GW of renewable energy generating assets currently in operation or under construction, we are building a decarbonized energy future. Visit us at www.nexamp.com.
About Cypress Creek Energy
Cypress Creek Energy is a U.S. independent power producer and developer of energy infrastructure designed to meet the nation’s rapidly growing demand for reliable, cost-effective, and sustainable electricity. Built on more than a decade of experience developing, financing, owning, and operating energy assets, the company delivers integrated solar, storage, and firm capacity solutions that serve utilities, communities, and large-load customers.
Cypress Creek believes energy infrastructure should create lasting value beyond generating affordable, sustainable electricity. Through responsible development, long-term ownership, and meaningful community partnerships, the company is committed to strengthening the places where it lives, works, and builds. Since inception, Cypress Creek has commercialized 19 GW of projects and today has more than 6.8 GW of assets operating or under construction, along with a 19 GW development pipeline. Through Cypress Creek Solutions, its in-house operations and maintenance platform, their experienced team manages more than 8.6 GW of energy assets for both Cypress Creek and third-party owners across 24 states.