San Antonio, Texas –The North American Development Bank (NADBank) signed a US$46.9-million loan for the Zier Solar and Energy Storage Project under development by Cypress Creek Renewables on Aug. 12, 2022. The project consists of the design, construction, and operation of a 208MW solar farm and a 40MW/ 80MWh, battery energy storage system (BESS) located in Kinney County, Texas. Upon completion, the project will increase the installed capacity of renewable energy resources and energy storage in the Texas grid.
The park is expected to generate approximately 414.31 gigawatt-hours (GWh) of electricity during the first year of operation, which is equivalent to the annual consumption of 30,286 households. Pairing the energy storage system with the solar park will increase its efficiency and reliability by storing the electricity produced during periods of high solar output and delivering it to the grid during periods of peak demand.
“NADBank is pleased to finance our first solar plus battery storage project, and we look forward to many more of these types of projects in the future,” said NADBank Managing Director Calixto Mateos Hanel. “The electricity generated by this project will offset production from other, more polluting sources, thus resulting in cleaner air for the region and a healthier environment for area residents.”
The BESS is expected to store electricity generated by the solar farm and/or the Electric Reliability Council of Texas (ERCOT) grid and deliver up to 13.5 GWh of electricity a year. This will help ERCOT reduce the use of ramp-up/ramp-down fossil fuel plants, integrate more renewables into the grid and increase grid reliability. The project will help displace the emission of greenhouse gases and other contaminants.
“We are delighted to have NADBank as a partner in this solar and energy storage project in our mission to build a more sustainable future,” said Sarah Slusser, CEO of Cypress Creek Renewables. “We look forward to this and other opportunities to improve the resiliency and reliability of the Texas grid through renewable energy resources.”
Construction on the solar park and energy storage system is expected to start in the Fall of 2022. Additionally, the Project is expected to benefit nearby communities through the creation of approximately 225 jobs during construction and three on-site jobs during operation.
NADBank is a financial institution established and capitalized in equal parts by the United States and Mexico for the purpose of financing environmental infrastructure projects along their common border. As a pioneer institution in its field, the Bank is working to develop environmentally and financially sustainable projects with broad community support in a framework of close cooperation and coordination between Mexico and the United States.
About Cypress Creek Renewables
Cypress Creek Renewables is a leading renewables developer and independent power producer. It develops, finances, owns, and operates utility-scale and distributed solar and energy storage projects across the United States with a mission to power a sustainable future, one project at a time. Since inception, Cypress Creek has developed more than 11GW of solar projects. Today it owns 2GW of solar facilities in operation and has a 15GW development pipeline. Cypress Creek’s leading O&M services business operates and maintains 4GW of solar projects for customers across 19 states. For more information about Cypress Creek, please visit www.ccrenew.com.