Cypress Creek Partners with Nexamp on Illinois Community Solar Portfolio
Nexamp acquired a 45 MW portfolio of 15 community solar projects in Illinois from Cypress Creek Renewables.
Cypress Creek Renewables announced today that it reached an agreement to sell a 45MW portfolio of Illinois solar projects to Nexamp. The portfolio consists of 15 separate community solar projects across ComEd and Ameren utility territories. The projects are anticipated to be operational by the Fall of 2023.
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"It has been a pleasure to strengthen our relationship with Nexamp as we work to bring low-cost, reliable clean energy to the people of Illinois," Sarah Slusser, CEO of Cypress Creek Renewables said. "Cypress Creek is committed to helping Illinois achieve its ambitious goals established under the Climate and Equitable Jobs Act through these projects and dozens more in development. The passing of the Inflation Reduction Act has made these goals even more attainable and will bring even greater benefits to local communities."
Once complete, the projects will generate enough renewable energy to meet the needs of approximately 6,000 average homes while offsetting 25,500 metric tons of CO2 annually, the equivalent of taking 4,800 cars off the road. The projects are also expected to create significant local construction jobs and generate millions in new property tax revenue and other community benefits over their operational life.
"Nexamp has worked hard to be an impact player in Illinois' clean energy future, and we're proud to have earned the trust of the talented Cypress Creek team to bring this impressive portfolio online," said John Murphy, Chief Strategy Officer, Nexamp. "Illinois has taken decisive action to cement itself as a national climate leader and now serves as an emerging model for a truly diversified clean energy sector. Nexamp is committed to being an enthusiastic partner in realizing Illinois' renewable employment and deployment goals, delivering direct benefits to Illinoisans in every community."
Nexamp's industry-leading community solar program is already serving thousands of Illinois ratepayers, and thousands more will be eligible to enroll in this portfolio starting in 2023. With no credit checks, no fees to enroll, no long-term contract and no equipment to install, subscribers can begin saving as soon as the project goes live. To learn more, visit https://www.nexamp.com/community-solar//.
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