Cypress Creek Renewables has reached an agreement to sell a 45-megawatt portfolio of solar projects in Illinois to Nexamp.
Once completed, the projects will generate enough renewable energy to meet the needs of about 6,000 homes while offsetting 25,500 metric tons of CO2 annually, or the equivalent of taking 4,800 cars off the road, according to a release from Cypress Creek, a Santa Monica-based solar farm manufacturer and developer.
The projects are also expected to create local construction jobs and generate millions in property tax revenue and other benefits, the release added.
Sarah Slusser, chief executive of Cypress Creek, said that it had been a pleasure to strengthen the company’s relationship with Nexamp in Boston as it works to bring low-cost, reliable clean energy to the residents of Illinois.
“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,” Slusser said in a statement. “The passing of the Inflation Reduction Act has made these goals even more attainable and will bring even greater benefits to local communities.”
The climate act, signed into law by JB Pritzker, the state’s governor, last year increases Illinois’ renewable energy standards to 40% by 2030 and 50% by 2040 and provides support for the state’s clean energy program.
John Murphy, chief strategy officer of Nexamp, said that 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 Illinoisians in every community,” Murphy said in a statement.