Swift Current Energy Completes Sale of 2.9 GWh Storage and 2.5 GW Solar Facility to Cypress Creek Renewables

Major Arkansas energy facility will be placed in service in 2029

HOUSTON and BOSTON, March 11, 2026 /PRNewswire/ -- Swift Current Energy (Swift Current) today announced that it has sold its Steel River solar and storage project to Cypress Creek Renewables (Cypress Creek). The energy facility, located in Northeast Arkansas combines 2,900 MWh (720 MW) of battery storage with 2,450 MWdc (1,500 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 United States.

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, said, "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 utilize U.S.-made equipment, including U.S.-made structural steel and modules.

"Steel River reflects the scale of infrastructure required to meet America's rapidly growing electricity demand," said Jeffrey Meigel, Chief Investment Officer of Cypress Creek. "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 U.S. 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.

About Swift Current Energy

Swift Current Energy is trailblazing a path for clean energy now. Founded in 2016, the company develops, commercializes, owns, and operates highly competitive, utility-scale solar, wind, and energy storage projects across North America. Swift Current Energy is majority-owned by funds managed by IFM Investors and Lookout Ridge Energy Partners. For more information, please visit swiftcurrentenergy.com.

SOURCE Swift Current Energy