Cypress Creek Energy has announced that it has secured $3.5 billion in financing to go toward the Steel River Energy Center in Mississippi County, one of the nation’s largest solar power and battery-storage facilities.
When completed, the project will add 1.63 gigawatts (GW) of solar and 1.9 gigawatt-hours (GWh) of battery storage to the regional grid. Upon full buildout, the three-phase project is expected to provide 2.45 GW of solar and 2.9 GWh of battery storage by 2029.
Built on Arkansas steel, the project is prioritizing American-made materials, including 100% U.S.-made structural steel, with nearly all sourced from Mississippi County.
“This financing reflects both the scale of the project and the strong support we’re seeing from the capital markets for high-quality energy infrastructure projects backed by experienced sponsors,” said Kevin Smith, Cypress Creek Energy CEO. “We value the confidence and partnership of this exceptional group of financial institutions, many of whom we’ve worked with across prior transactions. Together, we’re advancing infrastructure that can help meet Arkansas’s and America’s rapidly growing electricity demand while delivering long-term economic benefits to local communities.”
The Steel River Energy Center is one of the most significant new solar plus storage energy infrastructure projects in the country, made to help meet rapidly growing electricity demand with reliable, cost-effective power while strengthening grid dependability in the region. The project’s battery storage systems will allow electricity to be delivered when it’s needed most, supporting grid reliability, reducing outage risk and helping maintain stable electricity prices.
The project will also utilize 100% domestically manufactured solar panels from First Solar, along with other key components sourced from Arkansas-based companies. It is expected to generate nearly $300 million in new tax revenue over its lifetime, directly benefiting local schools while helping fund public safety, roads and other community priorities. Steel River is also expected to create approximately 700 construction jobs on site, along with additional jobs supporting construction activity through local hotels, restaurants, suppliers and other businesses across the region.
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