Cypress Creek Renewables adds 400 MW of energy storage in ERCOT

cypress creek renewables

Cypress Creek Renewables has added 400MW/600MWh to its storage portfolio after acquiring four Texas standalone energy storage projects from Black Mountain Energy Storage (BMES). The projects, each 100 MW, are located throughout the Electric Reliability Council of Texas (ERCOT) market and are currently under development.   

Cypress Creek will continue project development, entitlement, engineering, procurement, financing, construction, and will operate the 400MW/600MWh portfolio once complete. The four projects are expected to be placed in service in 2024.  

“ERCOT is an incredibly dynamic power market, and standalone storage assets will continue to provide opportunities to increase grid reliability through flexible and dispatchable resources,” said Jack Murray, Director of M&A at Cypress Creek. “Black Mountain has been an exceptional partner to work with and we are excited to throw our development, EPC and financing expertise behind these assets to move them across the finish line, affirming our commitment to developing resilient renewable energy resources throughout Texas.”  

Nationally, Cypress Creek has developed more than 11GW of solar to date and has a 15GW solar and storage pipeline. In the ERCOT market, Cypress Creek has developed 5GW of solar and storage assets, bringing resiliency and flexibility to the grid.    

The transaction was facilitated through the LevelTen Energy Asset Marketplace, connecting renewable energy projects and buyers towards deal execution.  

“It was an honor to support this transaction via the LevelTen Asset Marketplace, which brings together project developers and investors, and delivers the online tools they need to complete asset sales,” said Patrick Worrall, vice president of Asset Marketplace, LevelTen Energy. “Black Mountain Energy Storage and Cypress Creek Renewables are leaders in the industry, and we look forward to watching development on this portfolio of storage projects progress.”  

Have you checked out our YouTube page?

We have a ton video interviews and additional content on our YouTube page. Recently we debuted Power Forward! -- a collaboration with BayWa r.e. to discuss higher level industry topics as well as best practices / trends for running a solar business today.

Our longer running side project is The Pitch -- in which we have awkward discussions with solar manufacturers and suppliers about their new technology and ideas so that you don't have to. We've discusses everything from residential rail-less deck attaching and home solar financing to large-scale energy storage value stacking and utility-driven new home solar + storage microgrids.

We also post our Project of the Year announcements there! Interviews with this year's winners will be up starting the week of Nov. 8. Head there and subscribe today to stay on top of all this extra stuff.

Tags: