Cypress Creek Renewables Announces Solar+Storage Portfolio For N.C. Co-op

Posted by Joseph Bebon on June 28, 2017 No Comments
Categories : Projects & Contracts

Solar farm developer Cypress Creek Renewables has teamed up with United Renewable Energy to co-develop a series of 12 solar-plus-storage projects with Brunswick Electric Membership Corp. (EMC) in North Carolina. According to Cypress, the 12 projects have a combined storage capacity of 12 MWhs, and they are set to commence construction this month and be online by October.

United Renewable Energy developed the project structure and power purchase agreements with Brunswick EMC, allowing the cooperative utility in southeastern North Carolina to benefit from the energy storage capacity in the batteries while purchasing solar energy at avoided cost.

Cypress Creek Renewables acquired the projects and provided late-stage project development, financing and construction. The solar portion of the systems will charge the batteries during off-peak periods. Once the batteries are charged each day, the solar portion of the projects will continue to deliver energy to the grid. During Brunswick EMC’s peak load times in the summer and winter, the projects will provide reliable solar energy using the solar panels and/or the batteries and will reduce the utility’s peak power requirements.

“These projects provide low-cost solar energy to our members, and compound the value by delivering it exactly when we need it,” says Don Hughes, CEO of Brunswick EMC. “This partnership will provide significant value to our members for years to come.”

“Energy storage is a key component for solar. We see energy storage as inevitable. It makes solar 24/7 and permits us to be better partners to everyone in the energy food chain,” says Cypress Creek Chairman Ben Van de Bunt. “Cypress Creek Renewables began building out our storage team in 2016. These efforts are aligned with our goal to create a generation profile that more accurately matches the needs of our utility partners and retail customers.”

“We are proud to collaborate with Brunswick EMC to bring innovation in solar-plus-storage to its members,” says William Silva, CEO of United Renewable Energy. “We are very grateful to partner again with Cypress Creek Renewables, whose outstanding team will bring these projects to life this year.”

 

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