Black Mountain Sells 400 MW of Energy Storage to Cypress Creek Renewables

After acquiring four Texas-based energy storage projects from Black Mountain Energy Storage, Cypress Creek Renewables now has 400 MW/600MWh of storage capacity. Each project is 100 MW in size and is currently under development.  

Cypress Creek will continue to develop, finance, and procure the financing, as well as engineering, procurement, and entitlement for the project. Once completed, it will manage the 400 MW/600MWh portfolio. The four projects will be put into service in 2024. 

Cypress Creek has created more than 11GW of solar in the US and has a 15GW solar and storage capacity pipeline. Cypress Creek has 5 GW of storage assets and solar assets in the ERCOT market. This adds resilience and flexibility to the grid.   

“ERCOT is an incredibly dynamic power market, and standalone storage assets will continue to provide opportunities to increase grid reliability through flexible and dispatchable resources,” says Jack Murray, director of M&A at Cypress Creek. “Black Mountain has been an exceptional partner to work with and we are excited to throw our development, EPC and financing expertise behind these assets to move them across the finish line, affirming our commitment to developing resilient renewable energy resources throughout Texas.” 

“It was a pleasure working with the Cypress Creek team, and we are pleased to have assisted them on their journey to be one of the most significant renewables developers in the U.S.,” states Rhett Bennett, CEO of BMES. “Cypress not only understands the power market, but also the critical importance of energy storage. They are committed to renewable energy, and we are excited about the potential of these projects and the immense positive impact they will bring to the grid.” 

The LevelTen Energy Asset Marketplace connected renewable energy buyers and sellers to facilitate the transaction. 

“It was an honor to support this transaction via the LevelTen Asset Marketplace, which brings together project developers and investors, and delivers the online tools they need to complete asset sales,” comments Patrick Worrall, vice president of Asset Marketplace, LevelTen Energy. “Black Mountain Energy Storage and Cypress Creek Renewables are leaders in the industry, and we look forward to watching development on this portfolio of storage projects progress.”