Cypress Creek Renewables has added 400MW/600MWh to its storage portfolio after acquiring four Texas standalone energy storage projects from Black Mountain Energy Storage (BMES).
The projects, each 100MW, are located throughout the Electric Reliability Council of Texas (ERCOT) market and are currently under development.
Under the agreement, Cypress Creek will continue project development, entitlement, engineering, procurement, financing, construction, and will operate the 400MW/600MWh portfolio once complete.
The four projects are expected to be placed in service in 2024.
Nationally, Cypress Creek has developed more than 11GW of solar to date and has a 15GW solar and storage pipeline.
In the ERCOT market, Cypress Creek has developed 5GW of solar and storage assets, bringing resiliency and flexibility to the grid.
Cypress Creek director of M&A Jack Murray said: “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.
“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.”
BMES chief executive Rhett Bennett said: “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 US.
“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.”