SC: Cypress Creek Renewables to Invest $20M, Start Solar Power Operations
31 Aug, 2015
Cypress Creek Renewables, a company that specializes in the ownership and development of long-term solar energy projects, is establishing two new operations in Lexington County. The company is investing $20.4 million in the solar projects.
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.
Cypress has received approval to build two Lexington County projects off of Southbound Road and George Derrick Road in Swansea. The company is working in partnership with Sustainable Energy Solutions, which is assisting Cypress by identifying sites, obtaining necessary permits and coordinating with the utilities. Both Lexington County solar projects will produce 10 megawatts of energy once at full capacity. Twenty megawatts of solar energy is enough to provide inexpensive, secure, clean energy to approximately 4,000 South Carolina homes.
For more information on Cypress Creek Renewables, visit www.cypresscreekrenewables.com.
"The energy we will create in Lexington County is a model of how things go when things go well. The energy is locally created, using underutilized land and delivering local residents secure, long term clean energy dependent only on the sun. We are grateful to officials at Lexington County, the State of South Carolina, SCE&G and Sustainable Energy Solutions for their leadership and we hope to create more win-win opportunities together in the future." -Cypress Creek Renewables CEO Matthew McGovern
"We're very appreciative of the support we've received from Lexington County's economic development team, South Carolina Electric & Gas and all of our partners that have helped in the development of these projects. The opportunity to provide meaningful construction jobs and a long term revenue stream to the county is extremely satisfying." -Sustainable Energy Solutions, LLC Owner and Director of Business Development Paul Fleury
"We're excited to welcome Cypress Creek Renewables to the South Carolina family. As a company that specializes in solar power and renewable energy, Cypress' investment will not only have a positive impact on our economy but will also help us secure a sustainable, environmentally-friendly energy source to help move our state forward." -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
"Lexington County is delighted that Cypress Creek Renewables has decided to locate in the Swansea/Gaston area of the County. We strongly encourage and support initiatives that foster a wholesome and healthy environment." -Lexington County Council Chairman Johnny Jeffcoat
"New energy technologies continue to emerge and the Central South Carolina region is at the forefront of this movement. Cypress Creek Renewables partners with local utilities to develop long-term sustainable energy. They have a proven track record across the United States and we welcome them to Lexington County." -Central SC Alliance Chairman Mike Brenan
FIVE FAST FACTS
- Cypress Creek Renewables is establishing solar power operations in Lexington County.
- $20.4 million investment in Swansea, S.C. operations.
- Established in 2014, Cypress Creek Renewables is headquartered in Santa Monica, Calif.
- The company currently manages a development pipeline of more than 200 projects.
- Cypress Creek's two Lexington County solar projects 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 Boeing, Bridgestone, Continental, Monster.com, Volvo Cars, ZF Group, BMW and Google Inc. 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. Consistently, South Carolina has ranked as one of the top states in the nation for attracting jobs through foreign investment, according to IBM-Plant Location International and FDI Markets reports. For more information, visit www.SCcommerce.com.