Cypress Creek Renewables announced it has acquired the Steel River project from Swift Current Energy, advancing the development of one of the largest solar and battery storage facilities in the United States. The project is located in Mississippi County, Arkansas and is currently under development.
Once completed, Steel River will include approximately 2.45 gigawatts of solar generation paired with 2.9 gigawatt hours of battery storage capacity, including 720 megawatts of battery output. The acquisition will significantly expand Cypress Creek’s portfolio, doubling its operating and under-construction capacity to nearly 7 gigawatts.
The project represents one of the most significant new energy infrastructure investments in the country, with an estimated total capital cost exceeding $4.5 billion. The combined solar generation and battery storage system is designed to provide cost-effective electricity while improving grid reliability, helping meet peak power demand and reducing the risk of outages in the region.
Steel River will be built in three phases. Each phase is expected to include roughly 815 megawatts of solar generation paired with 240 megawatts and 960 megawatt hours of battery storage capacity. All phases are expected to enter service by 2029.
The development is also expected to generate substantial economic benefits for Mississippi County and the surrounding region. The project is estimated to generate more than $300 million in tax revenue over its lifetime, supporting local schools, infrastructure improvements, and public safety initiatives.
Construction of the facility is expected to create approximately 700 full time jobs, along with 19 permanent operational roles once the project is completed. The project will incorporate American-made structural steel and domestically manufactured solar modules, while sourcing additional equipment from Arkansas-based suppliers when possible.
Cypress Creek Renewables develops, finances, owns, and operates solar and energy storage infrastructure projects. Since its founding, the company has commercialized 15 gigawatts of projects and currently operates or has under construction more than 3 gigawatts of assets. The company also maintains a development pipeline of about 15 gigawatts of new projects planned for future construction.
KEY QUOTES:
“Steel River reflects the scale of infrastructure required to meet America’s rapidly growing electricity demand. Our platform is built to develop, finance, and operate projects of this magnitude. This acquisition marks an important step in strengthening Cypress Creek’s role as a leading energy solutions provider and long-term owner of large-scale U.S. energy infrastructure.”
Jeffrey Meigel, Chief Investment Officer Of Cypress Creek Renewables
“Steel River will be one of the largest clean energy facilities in the country, supporting energy affordability and reliability while driving local and national economic growth. Swift Current’s sale of this monumental project, our largest to date, sets up our company for continued success and growth. We’re thrilled that our team has forged a strong working partnership with Mississippi County, and we look forward to continuing to work with the county on other projects in our portfolio.”
Eric Lammers, CEO And Co-Founder Of Swift Current Energy
