The latest on the Ostrea Solar Project is that in early May the developers Cypress Creek Renewables secured $150 million in construction financing for the Ostrea Solar development. MUFG Bank served as the coordinating lead arranger, alongside BNP Paribas, DNB Bank ASA, and Santander. U.S. Bank is participating as the project’s tax equity investor.
“This transaction reinforces MUFG’s commitment to funding high-quality, sustainable infrastructure,” said Takaki Sakai, Managing Director at MUFG Bank. “We are proud to support Cypress Creek’s continued growth and the development of renewable assets like Ostrea Solar.”
The Ostrea Solar project, developed by Cypress Creek Renewables, is a 104-megawatt direct current (MWdc) utility-scale solar installation underway in Yakima County, Washington. Located approximately 30 miles east of Yakima, the facility spans 500 acres and will supply clean electricity to between 15,000 and 16,000 homes annually. Once completed, the project will provide 80MW alternating current (MWac) to the grid via a new 115 kV substation tied into the Bonneville Power Administration network.
Ostrea Solar features 194,000 photovoltaic panels mounted on Nextracker NX Horizon solar trackers, 34,000 steel posts, and Sungrow inverters. The project represents a major investment in Washington’s renewable energy infrastructure, with long-term benefits for both the local economy and the environment.
Groundbreaking Ushers in New Era for Solar in Washington
Construction began in February 2025 with PCL Construction’s Solar Division (PCL Solar) as the EPC (Engineer, Procure, Construct) contractor. This marks Cypress Creek’s first solar project in Washington to reach both financial close and groundbreaking.
“We’re thrilled to have broken ground on Ostrea,” said Sarah Slusser, CEO of Cypress Creek. “This project reflects our commitment to helping Washington meet its clean energy goals and delivering value to the communities we work in.”
Cypress Creek Renewables to Build 80 MW Solar Plant in Yakima County
Job Creation and Local Economic Impact
The Ostrea Solar project is expected to generate approximately 250 construction jobs and contribute an estimated $15 million in tax revenue to Yakima County over its operational lifetime.
Fact Sheet: Ostrea Solar Project
We managed to put together a factsheet from various sources for your perusal.
- Developer: Cypress Creek Renewables
- Location: Yakima County, WA
- Capacity: 104MWdc / 80MWac
- Construction Start: February 2025
- Planned Operation: Mid-2026
- EPC Contractor: PCL Solar
- Modules: 194,000
- Support Posts: 34,000
- Site Size: 500 acres
- Estimated Value: $86 million
- Jobs Created: ~250
- Lifetime Tax Revenue: $15 million
- Financing: MUFG, BNP Paribas, DNB Bank ASA, Santander
- Tax Equity: U.S. Bank
Suppliers
- Solar Inverters: Sungrow
- Solar Trackers: Nextracker
Project Milestones
- Planning and Permitting – Completed in 2024
- Financial Close Secured – January 2025
- Construction Groundbreaking – February 2025
- Major Equipment Installation Begins – Q4 2025
- Grid Connection and Testing – Early 2026
- Target Commercial Operation Date – Mid-2026
