EQT to Buy Cypress Creek Renewables From HPS Investment Partners and Temasek

Swedish private-equity firm EQT said Saturday that its EQT Infrastructure V fund has agreed to acquire integrated renewable-energy platform Cypress Creek Renewables from funds managed by HPS Investment Partners and Temasek.

Cypress Creek develops, finances, operates and owns solar-energy and storage facilities across the U.S. The company has developed 11 gigawatts of solar and has more than 3.7 gigawatts under operations and maintenance management.

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“Cypress Creek, with its forward-thinking leadership team, is well-positioned to take advantage of the growing renewable energy market and continued investment in the U.S., supported by expanding federal and state policy, technology cost optimization, and corporate sustainability goals,” EQT said.

The transaction is subject to customary conditions and approvals and is expected to close in the second half of 2021.

EQT said that with this transaction, its EQT Infrastructure V fund is expected to be 35%-40% invested.

Source: Market Watch

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