Cypress Creek Renewables, a renewable-energy developer and independent power producer, has secured $133 million in financing to support the development of a utility-scale, standalone battery energy storage system in Texas.
The energy finance business of First Citizens Bank served as lead arranger on the financing package.
Cypress Creek Renewables — which develops, finances, operates, and owns solar and energy storage projects across the United States — said the Destiny Storage project is now under construction in Harris County. When completed in early 2026, it is planned to have 200 megawatts of storage capacity, which will contribute to Texas’ grid stability and renewable-energy storage capacity.
“With this funding, we are poised to accelerate the deployment of cutting-edge energy storage solutions, helping to stabilize grids, reduce carbon emissions and empower communities with sustainable energy,” said Sarah Slusser, CEO of Cypress Creek Renewables.
