Once operational, Hanson Solar will deliver electricity to the ERCOT grid under a power purchase agreement with Meta, supporting Meta's clean energy and sustainability goals while contributing to grid reliability, creating local economic value, and reinforcing Texas's position as a leader in energy innovation.
“Securing financing for Hanson Solar marks another important milestone as we expand our investment in Texas and continue partnering with customers like Meta,” said Sarah Slusser, CEO of Cypress Creek Renewables. “Projects like Hanson Solar go a long way to meeting the near-term need for reliable, affordable power that supports economic growth across the country.”
Construction was mobilized earlier this year with TIC – The Industrial Company, a subsidiary of Kiewit Corporation, serving as the EPC contractor for the project. The project will contribute to local economic activity, supporting an estimated 300 construction jobs, and delivering more than $80 million in local tax revenue over its operational lifetime.
Hanson Solar reached financial close with a combination of preferred equity and debt financing. The preferred equity commitment was provided by funds managed by a premier global credit asset manager with more than $350 billion of assets under management. The debt facilities were provided by MUFG Ltd. and SMBC, underscoring sustained lender and investor confidence in Cypress Creek's platform.
“MUFG is pleased to provide debt financing for the Hanson Solar project, a significant step forward in expanding renewable energy capacity across Texas,” said Takaki Sakai, Managing Director at MUFG Bank. “Our continued partnership with Cypress Creek reflects our commitment to supporting bankable, future-ready infrastructure that aligns with investor priorities and global sustainability goals.”
“The Hanson Solar project represents a compelling opportunity for long-term investment in the renewable energy sector, and SMBC is excited to support it,” said Paul Jun, Group Head, Power & New Energies North America at SMBC. “Cypress Creek's development platform and the financial fundamentals of this project make it well-positioned to contribute meaningfully to the clean energy economy.”
Hanson Solar is expected to reach commercial operation in mid-2027, delivering reliable power to ERCOT and long-term economic development benefits to Texas communities.
