Solar Offtake Agreements

Microsoft signed on as a long-term offtaker for energy and environmental attributes generated by Cypress Creek Energy's Ostrea Solar project in Yakima County, Washington, which reached commercial operation this week. The project adds 104 MW DC/80 MW AC of new electricity generation to the region's power system, and Cypress Creek is set to own and operate the facility for up to 40 years.

The deal follows Cypress Creek's July agreement naming Google as the anchor investor and offtaker for its Steel River Energy Center in Arkansas, which is expected to become the largest solar facility in the U.S. Ostrea represents approximately $180 million in private investment and is projected to generate $13.3 million in state and local tax revenue.

The companies also worked with Washington state to conserve roughly 275 acres of shrubsteppe habitat.