Cypress Creek Energy Advances Solar, Storage Hub in Arkansas Through $3.5B Investment

Power producer Cypress Creek Energy is advancing one of the largest solar and battery storage developments in the U.S. after securing $3.5 billion in financing to support Phases 1 and 2 of its Steel River Energy Center in Mississippi County, Arkansas.

The $3.5 billion investment, arranged by Barclays, BNP Paribas, Santander and Wells Fargo, will support construction and long-term operation of the project’s first two phases, which will add 1.63 GW of solar and 1.9 GW of battery storage to the regional grid, according to a release.

“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 CEO Kevin Smith of Cypress Creek Energy. “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.”

Phases 1 and 2 have been secured through a virtual power purchase agreement, which allows the corporate buyer to be located anywhere in the U.S. and receive all the project's Renewable Energy Certificates (RECs). Cypress Creek Energy’s corporate buyer has been labeled as an "investment-grade corporate counterparty" due to a non-disclosure agreement built into the deal.

Once the Steel River Energy Center is fully built, the three-phase project is expected to provide 2.45 GW of solar and 2.9 GW of battery storage by 2029. The project’s battery storage systems will deliver electricity during periods needed most to help maintain the price stability of electricity while also supporting grid sustainability.

Cypress Creek Energy, which is an independent developer of renewable energy infrastructure, adds that the Steel River Energy Center will prioritize U.S.-made materials, putting Arkansas manufacturers to work. It’s an opportunity for this project to scale the region’s position as a growing hub for American steel.

Arizona-based First Solar will manufacture 100% of its solar panels for the project domestically. Other key components, Cypress Creek Energy states, will be sourced from Arkansas-based companies.

Over the project’s lifetime, Cypress Creek Energy expects the Steel River Energy Center to generate roughly $300 million in new tax revenue to benefit local schools and other community-related priorities. Approximately 700 construction jobs on-site are expected to be generated across all three phases.

Presently, Cypress Creek Energy operates and maintains more than 8.6 GW of energy assets across 24 states. The developer states it has plans for 19 GW of future construction projects over the coming years.

According to a report by The Solar Energy Industries Association and Benchmark Mineral Intelligence, the U.S.'s new storage capacity grew 32% in Q1 2026, marking the country’s strongest first quarter in the sector. Over 610 GWh of energy storage is expected to be installed by 2030, up from previous U.S. projections.