Morning Brief: Cypress Creek’s 162-MW Wagyu project is delivering power, Sunlight Financial hits $3 billion

Cypress Creek Renewables’ largest solar development project, the 162-MW Wagyu project in Brazoria County, Texas is now delivering power to the grid. The project is owned by Cubico Sustainable Investments with construction by RES and O&M provided by Cypress Creek. Wagyu has the unique combination of a 15-year corporate PPA from Starbucks and a 12-year physical hedge with BP. IJGlobal noted, “[t]he Wagyu project is particularly notable as one of the growing number of Texas solar projects to be contracted under a hedge rather than, or in addition to, a power purchase agreement. This is Cypress Creek’s twenty first project in Texas. Tax equity was provided by U.S. Bank. Source: Cypress Creek

GP Joule completed construction of the first merchant solar project in Alberta: the 25.4-MW Innisfail Solar project in Red Deer County, Alberta, joining with British Columbia-based renewable energy developer, investor, and project owner, Elemental Energy. Because the installation must withstand the Alberta climate for decades, Elemental chose GP Joule’s CSA-classified racking technology to secure the 69,000 bifacial solar modules onsite. Elemental provided the equity financing and will be the long-term owner and operator of the project.