Cypress Creek Renewables establishing solar power operations in Lexington County
March 1, 2016
Company investing more than $30 million in three additional Lexington County solar projects
Cypress Creek Renewables, a company that specializes in the ownership and development of long-term solar energy projects, has taken first steps toward investing $30 million in three solar energy facilities in Lexington County. This project complements two Lexington County solar facilities, located in Swansea, S.C., which the company announced in August 2015.
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.
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 to build three additional facilities in Lexington County.
The projects, all three of which are ten-megawatt facilities, will be located off of Old Charleston Road in Pelion, S.C. 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.
“We are thrilled that Lexington County continues to support local solar and the efforts of Cypress Creek to provide inexpensive renewable energy to local homes and businesses. Thanks to community leaders, Southern Current, our utility partners, and the state of South Carolina for recognizing that solar plays an important role in our nation’s energy mix.” -Cypress Creek Renewables CEO Matthew McGovern
“We are very excited and thankful that Lexington County is continuing to support the growth of renewables throughout the county and the state. These projects are the culmination of a lot of hard work, perseverance and team work of which we are proud to play a part.” -Southern Current, LLC Principal and Chief Development Officer Paul Fleury
“We are excited that Cypress Creek Renewables has chosen to expand further in Lexington County. With solar energy becoming a more cost-effective and competitive energy source, the Council is hopeful that Cypress Creek Renewables’ investment will prove to be a hugely valuable resource for the residents of Lexington County.” – Lexington County Council Chairman Todd Cullum
“It’s exciting to see a company once again decide to expand operations within the Central S.C. Region. Cypress Creek Renewables’ continuous growth in the region and the state are a testament to the economic strength and value that businesses find here. Their investment and commitment to clean renewable energy means a brighter future for this community.” -Central S.C. Alliance Chairman Mike Brenan
FIVE FAST FACTS
- Cypress Creek Renewables is establishing three additional solar power facilities in Lexington County.
- 40-60 jobs created during construction.
- $30 million investment in three Lexington County facilities.
- 10 megawatts can power about 2,000 homes per year.
- Cypress Creek Renewables is the largest and fastest growing dedicated provider of local solar farms.
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. The state won the Gold Shovel Award and the Project of Year Award from Area Development magazine in 2012, 2014 and 2015. For more information, visit www.SCcommerce.com.
