Written by: Leonard Parker | Solar News | 05th July
Investment firm EQT is acquiring Cypress Creek Renewables from HPS Investment Partners LLC and Temasek, enhancing its presence in the renewable energy field.
Cypress Creek develops, owns and operates solar and storage energy projects throughout the U.S. The company currently operates across 25 states, with 1.6 GW in operating assets.
EQT says it will leverage its global experience of partnering with renewable energy and sustainability businesses and network of global EQT advisors to support Cypress Creek in its next phase of growth.
“Cypress Creek plays a critical role in North America’s renewable energy development and infrastructure market,” says Alex Darden, a partner within EQT Infrastructure’s advisory team. “Its platform is optimally situated to benefit from tailwinds of increasing and durable demand for clean and responsible energy. EQT is excited to invest in and partner with CEO Sarah Slusser and the entire Cypress Creek team.”
Barclays served as financial advisor to EQT Infrastructure in connection with the transaction, and Simpson Thacher & Bartlett LLP served as legal counsel. Morgan Stanley & Co. LLC served as the exclusive financial advisor to Cypress Creek, and Kirkland & Ellis LLP served as legal counsel.
The transaction is expected to close in the second half of 2021.
Photo: A 3 MW solar project in North Carolina owned and operated by Cypress Creek