A group led by Singapore-based Temasek has agreed to purchase preferred equity interests in Cypress Creek Renewables.
The $200 million investment represents the purchase by the group of preferred stock and warrants to purchase up to an aggregate 10 percent stake of the common stock. Proceeds will support the company’s continued growth through creation, investment, maturation and monetization of its development portfolio. Cypress will continue to operate under its existing management and add two independent directors to its board.
“Our strategy focuses on creating markets, originating projects and allocating capital to the most attractive risk-adjusted opportunities, with success being driven by our ability to navigate development, structural and financial complexities as well as assessing and pricing risk,” commented Brad Bauer, Cypress’ chief capital markets officer.
