SC: Cypress Creek Renewables to Invest $10M for New Solar Power Project
8 Dec, 2015
Cypress Creek Renewables, a company that specializes in the ownership and development of long-term solar energy projects, has taken first steps toward investing $10 million in a solar energy project in Dillon County.
With offices in Arizona, Missouri, New York and North Carolina, as well as Los Angeles and San Francisco, Calif., Cypress Creek Renewables strives to make solar power economically attractive to utilities and consumers. Primarily focused on two to 10 megawatt utility scale projects, Cypress is working with regulators, utilities and business development groups throughout the United States to build more than one gigawatt of new solar projects between now and the end of 2016.
The company is working in partnership with Southern Current, which is the newly merged entity comprised of long time development partners Sustainable Energy Solutions and Solbridge Energy. Southern Current oversees local development activities including site identification and acquisition, obtaining necessary permits and coordinating with the utilities amongst other due diligence activities. Together, they have received economic development approvals for a facility in Dillon County, which is expected to be fully operational by the end of 2016.
The Dillon County solar facility will be located off of Wix Road in Dillon, S.C. and will produce 10 megawatts of energy at full capacity. Ten megawatts of solar energy is enough to provide inexpensive, secure, clean energy to approximately 2,000 South Carolina homes.
For more information on Cypress Creek Renewables, visit www.cypresscreekrenewables.com.
For more information on Southern Current, visit www.southerncurrentllc.com.
"Cypress Creek is thrilled to be making an important investment in the local economy of Dillon County by generating clean energy that will help lead South Carolina and our country toward energy independence," said CEO Matthew McGovern. "We greatly appreciate the cooperation of our partnering utilities and the local leaders who helped make this project possible." -Cypress Creek Renewables CEO Matthew McGovern
"Southern Current is thankful to be part of the team developing this project. It's another example of how South Carolina is furthering its commitment to support a vibrant clean energy economy in the state." -Southern Current, LLC Principal and Chief Development Officer Paul Fleury
"We're excited to see Cypress Creek continue to invest in our state and our people. We have worked extremely hard to build a business environment in South Carolina that is open to all kinds of companies, and we look forward to seeing both Cypress Creek and the renewable energy industry grow here in the future."
-Gov. Nikki Haley
"This investment by Cypress Creek Renewables will further strengthen South Carolina's growing reputation in the area of renewable energy. Providing both positive economic and environmental impacts, I'm proud to welcome Cypress Creek to our state and look forward to growing this terrific partnership in the years ahead." -Secretary of Commerce Bobby Hitt
"Cypress Creek Renewables has proven itself to be a steadfast supporter of our region. This announcement demonstrates we are creating a more diverse economy throughout our region and state. Cypress Creek Renewables is helping our region create a more clean and sustainable economic growth." -President Pro Tempore of the S.C. Senate and North Eastern Strategic Alliance Executive Committee Chairman Hugh K. Leatherman, Sr.
"Today we celebrate another great announcement in Dillon County, and we look forward to a long and prosperous relationship with Cypress Creek Renewables. Today's announcement is a good fit for our community and 'Just Right' for Team South Carolina." -Dillon County Economic Development Executive Director Tonny McNeil
FIVE FAST FACTS
- Cypress Creek Renewables is establishing solar power operations in Dillon County.
- 40-60 jobs created during construction.
- $10 million investment in Dillon County operations.
- The company currently manages a development pipeline of more than 200 projects.
- Cypress Creek's Dillon County operations are expected to be fully operational by the end of 2016.
About Cypress Creek Renewables
Cypress Creek Renewables is pursuing opportunities across the United States. Our business model is primarily focused on utility-scale ground mount projects from 2-10MW AC in capacity. Cypress brings extensive development experience and very aggressive financing to create new opportunities in emerging solar markets. Our goal is to make solar an economically attractive option without additional state incentives. For more information, visit www.cypresscreekrenewables.com.
About S.C. Department of Commerce
As South Carolina's leading economic development agency, the Department of Commerce works to recruit new businesses and help existing business grow. Commerce has recruited world-class companies to South Carolina such as BMW, Boeing, Continental, Giti Tire, LPL Financial Holdings, Mercedes-Benz Vans, Toray and Volvo Cars and also supports startups, small and existing business, innovation and rural development initiatives. Commerce partners with the S.C. Technical College System via readySC to support workforce training and recruiting, and with the S.C. Department of Employment and Workforce, which provides worker training and employment opportunities within the state. IBM-Plant Location International reports in 2012, 2013 and 2015 ranked South Carolina first in the nation for attracting jobs through foreign investment. For more information, visit www.SCcommerce.com.