U.S. Steel River Solar-plus-Storage Project Secures $3.5 Billion in Financing

en.Wedoany.com Reported - Cypress Creek Energy announced on June 11, 2026, in Durham, North Carolina, that the first and second phases of the Steel River Energy Center have secured $3.5 billion in project financing. Located in Mississippi County, Arkansas, this solar-plus-storage project will fund construction and long-term operations, adding 1.63 GW of solar photovoltaic capacity and 1.9 GWh of battery storage capacity to the regional grid.

The Steel River Energy Center is being developed in three phases. According to the project developer, upon full completion, it is expected to achieve 2.45 GW of solar photovoltaic capacity and 2.9 GWh of battery storage capacity by 2029. Power sales for the first and second phases have been secured through virtual power purchase agreements with investment-grade corporate customers. This round of project financing provides funding support for the construction period, equipment procurement, and subsequent operations.

Institutions participating in this round of project financing include Barclays, BNP Paribas, Santander, and Wells Fargo, with the project also receiving support from a major tax equity investor. Cypress Creek Energy stated that the Steel River Energy Center will use domestically sourced structural steel from the U.S., photovoltaic modules manufactured by First Solar, and supporting components supplied by some local Arkansas enterprises. Once completed, the solar-plus-storage project will serve regional power supply and energy storage regulation needs.

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