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

Sunlight Financial, a point-of-sale finance firm, announced that more than $3 billion in loans to finance residential solar systems and other home improvement projects have been originated through its platform.  Nearly 100,000 homeowners have installed solar with Sunlight’s support — more than 750 MW. Sunlight partners with contractors nationwide to provide homeowners with financing for home improvement upgrades, including the installation of residential solar systems. Source: Sunlight

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.

OutBack Power Technologies donated one of its integrated systems to Power52 Energy Institute’s Solar Installation Training program in Baltimore. Founded by Ray Lewis, Cherie Brooks, and Rob Wallace, the Power52 Foundation is a 501(c)3 non-profit foundation dedicated to training and employing at-risk individuals in the Clean Energy industry. Their Solar Installation Training program has an employment placement rate of 90%, with the average starting hourly wage of $18.50 and 75% employment retention at the six-month mark.

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