Cypress Creek Renewables has acquired the Steel River project from Swift Current Energy, a 2.45 GW solar PV and 720 MW / 2.9 GWh battery energy storage system development located in Mississippi County, Arkansas. The acquisition represents one of the largest solar-plus-storage projects in the United States. Steel River will be built in three phases, with total capital costs exceeding $4.5 billion and all phases expected to be in service by 2029. The acquisition doubles Cypress Creek’s operating and under-construction portfolio to nearly 7 GW. For broader investor coverage, see the Renewable Energy Investors US – Top 15 List.

Transaction Facts

What Happened

Cypress Creek Renewables signed an agreement to acquire the Steel River project from Swift Current Energy. The acquisition brings a major solar-plus-storage development into Cypress Creek’s portfolio at the development stage. Steel River consists of 2.45 GW of solar PV paired with 720 MW / 2.9 GWh of battery energy storage, structured in three phases to be built sequentially. Total capital costs are estimated to exceed $4.5 billion. All three phases are expected to be placed in service by 2029. Upon completion of this acquisition, Cypress Creek’s total operating and under-construction renewable portfolio reaches nearly 7 GW.

Market Context

Steel River represents a significant addition to Cypress Creek’s United States portfolio. The scale of the project and the solar-plus-storage configuration reflect growing market demand for integrated generation and storage resources in the US renewable energy sector. Mississippi County, Arkansas provides favorable geographic conditions for solar development, with good irradiance and access to transmission infrastructure. The three-phase development approach allows Cypress Creek to manage capital deployment and grid interconnection sequentially while maintaining project momentum toward full service by 2029.

Why It Matters

The Steel River acquisition doubles Cypress Creek’s portfolio to nearly 7 GW, positioning the company as a significant scale developer in the US renewable energy market. The project demonstrates the continued appeal of solar-plus-storage combinations to developers and investors seeking integrated generation and storage resources. At 2.45 GW of solar paired with 720 MW of storage, Steel River ranks among the largest solar-plus-storage projects in the United States, reflecting the asset class’s growing scale and capital intensity. For Cypress Creek, the acquisition accelerates portfolio growth and diversification across the US market, while the phased development structure provides flexibility in capital management and grid interconnection timing.

Source: Renewables.Digital Transaction Page.