The energy facility, located in Northeast Arkansas, combines 2900 MWh (720 MW) of battery storage with 2450 MWdc (1500 MWac) of solar generation in three equal phases and is expected to be placed in service in 2029, making it one of the largest solar and energy storage projects in the US.

Swift Current signed a 20-year power purchase agreement with a technology company for the energy and renewable energy certificates associated with the first two phases of the project. Swift Current has actively developed Steel River since 2020 and secured the discretionary permits for all three phases.

Eric Lammers, CEO and Co-Founder of Swift Current Energy, commented, “Steel River will be one of the largest clean energy facilities in the country, supporting energy affordability and reliability while driving local and national economic growth. Swift Current’s sale of this monumental project, our largest to date, sets up our company for continued success and growth. We’re thrilled that our team has forged a strong working partnership with Mississippi County, and we look forward to continuing to work with the county on other projects in our portfolio.”

Steel River will create a significant source of new tax revenue for Mississippi County, directly benefiting local schools and providing funding for public safety and infrastructure improvements. It will create 700 full-time construction jobs and 19 permanent jobs on site. Consistent with Swift Current’s past projects, Steel River Solar will utilise US-made equipment, including US-made structural steel and modules.

Jeffrey Meigel, Chief Investment Officer of Cypress Creek, added: “Steel River re?ects the scale of infrastructure required to meet America’s rapidly growing electricity demand. Our platform is built to develop, finance, and operate projects of this magnitude. This acquisition marks an important step in strengthening Cypress Creek’s role as a leading energy solutions provider and long-term owner of large scale US energy infrastructure.”

Jefferies LLC acted as lead financial advisor and Truist acted as financial advisor to Swift Current on the transaction. Morgan, Lewis & Bockius LLP acted as lead transactional counsel for Swift Current, and Husch Blackwell LLP represented Swift Current as local and development counsel on the transaction. Stoel Rives LLP and Vinson & Elkins LLP also advised Swift Current on the project.

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

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Read the article online at: https://www.energyglobal.com/energy-storage/12032026/swift-current-energy-completes-sale-of-storage-and-solar-facility/