Cypress Creek gives $ 150 million financing for the Ostrea Solar project, construction begins

The Cypress Creek Renewles developer started building the Sterea Solar 104mW project in Yakima Province, Washington, the United States, after securing approximately $ 150 million in construction financing.

MUFG was the Coordination Coordinator for Finance, with the support of BNP Paribas, DNB Bank Asa and Santander.

In addition, the American bank has committed to the tax shareholding investor for the Ostrea Solar project.

The solar facility will generate adequate electricity for operating it between 15,000 and 16,000 medium homes in Washington annually, which contributes to clean energy initiatives in the region. It is on the right way to achieve commercial employment by mid -2016.

“We are happy to secure funding for Oustera, our first project to reach this landmark in Washington State,” said Sarah Sloor, CEO of Cypress Creek Renewles.

“Thanks to our strong partnerships, we deny our commitment to the state and achieve the benefits of this project – and follow -up in our pipeline – for the societies that will host them.”

PCL CONSTRUCTION, PCL Solar, is the engineering, purchases and construction contractor for the project.

The project is expected to create about 250 construction jobs and generate an estimated $ 15 million of tax revenue for Yakima Province over its life.

“This deal enhances MUFG’s commitment to financing high -quality renewable energy assets that offer long -term value,” said MUFG Takaki Sakai.

“Cypress Creek Renewles showed strong implementation capabilities and a strong pipeline, and we are happy to support its continuous growth by solution to a custom financing solution that corresponds to our strategic focus on sustainable infrastructure and energy transmission.”

“Cypress Creek provides $ 150 million financing for the Osstrea Solar project, originally created and published by Energy technologyThe brand owned by Globaldata.

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