Cypress Creek Renewables has closed financing for the Hanson solar facility project, a 505 MWdc (396 MWac) PV farm in Coleman County, Texas. Hanson solar project has an offtake agreement with Meta and is financed with a mix of equity and bank debt. Financiers include MUFG and SMBC. Construction is also underway under EPC contractor TIC. Cypress Creek targets start of commercial operation around mid-2027. Hanson solar project also includes integrated battery storage and promises local economic benefits.
Project Factsheet for Hanson Solar Facility in Texas
Developer: Cypress Creek Renewables
Offtaker: Meta Platforms Inc.
Location: Coleman County, Tx
Capacity: 505 MWdc (396 MWac)
Energy Storage: Project includes battery storage.
EPC Contractor: TIC – The Industrial Company
Finance: Senior debt from MUFG and SMBC. Financial also close reached.
Target Commissioning Date: Mid-2027
Local impact: 300 construction jobs. Local tax revenue at US$80 million.
Grid Interconnection: Active in ERCOT queue under Coleman cluster.
Project Timeline
Feb 2025: Cypress Creek & Meta sign Environmental Attribute Purchase Agreement (EAPA).
March to July 2025: Project design, permitting confirmations, EPC contracting done.
November 2025: Financial close.
2026 to H1 2027: Construction and commissioning phases. Will span civil works, module installation, interconnection works, etc.
Mid-2027: Target commercial operation date and connection to ERCOT.
Project Overview
For Cypress Creek, Hanson solar project in Texas is a flagship in the sense of scale. The developer also currently constructing the Sundance solar and energy storage project in Colorado and the Ostrea solar plant in Washington.
Financing for Hanson Solar Project in Texas
Hanson’s financing structure incorporates revenue anchored by corporate backing. Meta’s Environmental Attribute Purchase Agreement (EAPA) also secures Hanson’s environmental attributes (RECs) and provides a high credit buyer for a major revenue stream. This improves bankability for the senior lenders. The remainder of the cashflow from energy and any capacity revenues, et cetera, is tethered to ERCOT. The contractual structure of the financing through Cypress Creek’s institutional equity and hedges can also help stabilize the remainder of the cashflow.
RECs refers to Renewable Energy Certificates. These are basically monetized ‘green credits’ of a renewable energy project.
