EQT Infrastructure is to acquire Cypress Creek Renewables from funds managed by HPS Investment Partners and Temasek.

Cypress Creek operates solar and energy storage projects across 25 states in the US with 1.6GW in operating assets. It is to be acquired by the EQT Infrastructure V fund which is expected to be 35-40 percent invested.

Alex Darden, Partner within EQT Infrastructure’s Advisory Team, said, “Cypress Creek plays a critical role in North America’s renewable energy development and infrastructure market. Its platform is optimally situated to benefit from tailwinds of increasing and durable demand for clean and responsible energy. EQT is excited to invest in and partner with CEO Sarah Slusser and the entire Cypress Creek team as the Company pursues its next phase of growth and strategic vision. This investment aligns directly with our thematic approach of investing in sustainable businesses that have a positive impact on society. As a responsible investor, we are committed to working with Cypress Creek on transforming and supporting North America’s green energy future.”

Sarah Slusser, CEO of Cypress Creek, commented, “Cypress Creek Renewables is thrilled to have EQT backing our talented team and multi-year growth plan, centered on our mission of powering a sustainable future, one project at a time. With EQT, we will accelerate our sustainable growth in developing the highest-value solar and storage energy projects, providing best-in-class O&M services for ourselves and our customers, and expanding our fleet of operating assets.”