Cypress Creek Renewables has entered into an agreement to buy solar developer and engineering, procurement and construction (EPC) contractor FLS Energy, based in North Carolina, for an undisclosed sum.
An article in the Charlotte Business Journal puts Cypress Creek at 225 employees, and FLS Energy at 75. The same article names FLS Energy is the third-largest solar developer and EPC in North Carolina.
Cypress Creek is also active in North Carolina, as well as 14 other states. The company has 735 MW in its operating portfolio, and expects to complete over 1 GW by the end of the year, including FLS Energy projects.
Cypress Creek notes FLS Energy’s EPC capabilities as one of the aspects of the company that was attractive. “They have such a strong background on the construction and project finance side,” Cypress Creek Spokesperson Jeff McKay told pv magazine. “We feel that they are the best at what they do.”
The purchase is expected to close in mid-December.