Cypress Creek Renewables has announced the financial close for the Sundance solar and energy storage project in Elbert County in the US state of Colorado.
The hybrid project, featuring 75MW of alternating current (MWac) of solar capacity and a 50MW/200 megawatt-hour (MWh) battery energy storage system, is a significant leap towards Colorado’s clean energy objectives.
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The Sundance solar and energy storage project will provide sufficient energy to power 25,000 homes in Colorado through the CORE Electric Cooperative system.
This development is in line with the state’s commitment to harnessing clean energy sources.
Construction commenced in July 2025, with McCarthy Building Companies appointed as the engineering, procurement and construction contractor.
The project will create 250 construction jobs and generate more than $9.5m in property tax revenue throughout its expected 40-year lifespan.
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By GlobalDataCypress Creek is actively engaging with the Elbert County community, establishing a working group to oversee the distribution of $300,000 in direct community investment.
Cypress Creek Renewables CEO Sarah Slusser stated: “Today’s milestone underscores our long-term commitment to Colorado. Building on this success, we look forward to continuing to invest in and advance projects across the state – creating jobs, generating local tax revenue, and delivering reliable, affordable and American-made energy to communities.
“As we expand our presence, we remain committed to working closely with local leaders, community partners and state officials to ensure future projects support economic growth and power the state’s future.”
MUFG Bank served as the coordinating lead arranger for the project’s $190m construction financing.
They were joined by BNP Paribas, DNB Bank ASA and Santander. Fifth Third Bank has been named as the tax equity investor for the project.
MUFG Bank managing director Takaki Sakai stated: “This transaction highlights our continued commitment to financing high-quality clean energy projects that deliver lasting value.
“We’re pleased to support Cypress Creek on this hybrid solar and storage project in Colorado. Their proven execution and forward-looking pipeline align with our strategic focus on sustainable infrastructure and the transition to a more resilient energy future, and we look forward to continue expanding our wonderful partnership.”
The Sundance solar and energy storage project will commence commercial operations by late 2026.
