Cypress Creek Renewables has announced that its Zier solar and energy storage project in Texas, United States, has reached financial close. An amount of US$216m in financing was disclosed by the developer’s official statement.
Norddeutsche Landesbank Girozentrale participated in the process as coordinating lead arranger (CLA), while Lender and LC Issuing Bank, Rabobank, National Bank of Canada and the North American Development Bank were joint lead arrangers.
Cypress Creek has been granted with a construction-to-term loan, tax equity bridge and letter of credit facilities.
The Zier project is composed by a 208MW solar farm and a 40MW/80MWh battery energy storage system (BESS) facility. The plant will be built in Kinney County, with construction work expected to start this year.
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