Cypress Creek Renewables, a U.S.-based solar and energy storage project developer, has acquired the Steel River project from Swift Current Energy, a renewable energy project developer.
The Steel River project, currently under development in Mississippi County, Arkansas, will have 2.45 GW of solar generation paired with 2.9 GWh (720 MW) of battery storage capacity. It will be developed and constructed in three phases, each consisting of approximately 815 MW of solar generation coupled with 240 MW/960 MWh of battery storage capacity. All phases are expected to reach commercial operation by 2029.
Swift Current has signed a 20-year power purchase agreement with a technology company for the energy and renewable energy certificates associated with the first two phases of the project. The company has actively developed Steel River since 2020 and secured the necessary permits for all three phases.
The project will incorporate U.S.-made structural steel and domestically manufactured solar panels, with additional equipment sourced from Arkansas-based suppliers whenever possible, and is expected to create approximately 700 full-time construction jobs and 19 permanent jobs on site.
“Steel River reflects the scale of infrastructure required to meet America’s rapidly growing electricity demand,” said Jeffrey Meigel, Chief Investment Officer of Cypress Creek. “Our platform is built to develop, finance, and operate projects of this magnitude. This acquisition marks an important step in strengthening Cypress Creek’s role as a leading energy solutions provider and long-term owner of large-scale U.S. energy infrastructure.”
With this acquisition, Cypress Creek has doubled its operational and under-construction portfolio to nearly 7 GW.
Earlier in May 2025, Cypress Creek closed $150 million in financing to support the development and construction of the 104 MW Ostrea solar project in Yakima County, Washington. The company also secured approximately $133 million in funding to support the development of the 200 MW Destiny Energy Storage project in Texas.
According to Mercom’s Annual and Q4 2025 Solar Funding and M&A report, approximately 37.4 GW of solar projects were acquired in 2025, compared to 37.7 GW in 2024.
