Cypress Creek Renewables is one of the largest and fastest-growing solar farm providers in the United States. Solar farms are sites between 10 acres and 100+ acres that host a large quantity of solar panels and help provide affordable, dependable energy for local communities. Mercy Investment Services is supporting Cypress Creek’s solar energy development through two impact investments:
- Mercy Investment Services’ Environmental Solutions Fund invests in Cypress Creek, which has solar projects in Idaho, Indiana, Minnesota, North Carolina, Oregon and South Carolina. At the end of 2017, Cypress Creek owned operating solar projects producing 1,460MW of energy with plans to add more than 900MW in 2018.
- Mercy Partnership Fund investee Self-Help Credit Union, which provides financial services, nonprofit lending, and advocacy across more than 20 branches, has supported Cypress Creek’s growth in North Carolina. Since Cypress Creek’s partnership with Self-Help in 2013, 15 solar projects developed in rural North Carolina have produced enough megawatt hours to power 16,000 homes in one year. “We’re grateful for our partnership with Self-Help,” says Allan Riska, Cypress Creek director of project finance. “The opportunity to build our business with a sophisticated green energy investor like Self-Help at our side is unique and exciting.” Self-Help Credit Union is one of nearly 60 mission-driven organizations supported by a Mercy Partnership Fund investment.
Through both the Environmental Solutions Fund and Mercy Partnership Fund, Mercy Investment Services continues to look for investments with a positive environmental impact. Look for updates on more investments like this in future issues of Investing in Mercy.