The 162 MW Wagyu solar PV project in Brazoria County, Texas, is now delivering power to the grid. Located near Houston, the project is owned by Cubico Sustainable Investments, a global investor in renewable energy, and was developed by Cypress Creek Renewables, a company that develops, finances, owns and operates utility-scale facilities.
Project construction was performed by Renewable Energy Systems (RES). In addition to acting as the original project developer, Cypress Creek is also providing ongoing operations and maintenance and asset management for Wagyu. Wagyu has the unique combination of a 15-year corporate PPA from Starbucks and a 12-year physical hedge with BP.
“Wagyu is Cypress Creek’s largest project to date and our twenty-first project in Texas to reach commercial operation, highlighting our team’s deep experience developing, building and financing projects in Texas,” says Sarah Slusser, CEO of Cypress Creek Renewables.
Cypress Creek collaborated with Cubico on tax equity and debt financing for the project. Tax equity was provided by U.S. Bank, while project finance debt was provided by HSBC, NORD/LB and Rabobank.