Swedish investment company acquires solar developer Cypress Creek Renewables
Stockholm, Sweden-based investment firm EQT to acquire US solar energy developer zonne Cypress Creek Renewables.
Cypress Creek develops, owns and operates solar and energy storage projects in the United States and employs approximately 300 people.
The company operates in 25 states, with 1.6 GW of assets and has commercialized 11 GW since its inception in 2014. Cypress Creek operates in large-scale and distributed solar and storage markets, with a pipeline of future development and O&M service capabilities.
“Cypress Creek Renewables is pleased that EQT is supporting our talented team and multi-year growth plan focused on our mission to enable a sustainable future, one project at a time,” said Sarah Slusser, CEO of Cypress Creek. “With EQT, we will accelerate our sustainable growth by developing the most valuable solar and storage projects, providing the best O&M services for ourselves and our customers, and expanding our fleet of assets.”
EQT Infrastructure plans to invest in Cypress Creek’s operational, organizational, digital and sustainability initiatives. EQT will use its global experience working with renewable energy and sustainability companies to support Cypress Creek in its next phase of growth.
“Cypress Creek plays a vital role in the renewable energy and infrastructure development market in North America. The platform is optimally situated to take advantage of the tailwinds of the increasing and sustainable demand for clean and responsible energy,” said Alex Darden, partner within the advisory team of EQT Infrastructure. “EQT is excited to invest in and partner with CEO Sarah Slusser and the entire Cypress Creek team as the company pursues its next growth phase and strategic vision. This investment ties in directly with our thematic approach to investing in sustainable companies with a positive impact on society. As a responsible investor, we are committed to partnering with Cypress Creek to transform and support the future of green energy in North America.”
News item from EQT