MISSISSIPPI COUNTY, Ark. (KAIT) –Cypress Creek Energy has secured $3.5 billion in financing for the Steel River Energy Center, one of the largest solar and battery storage projects in the United States.
The plan is to deliver more than 1.6 gigawatts of solar power and nearly 2 gigawatt-hours of battery storage to the Arkansas grid, with full buildout expected by 2029.
Clif Chitwood, president of Mississippi County Economic Development, says the county’s electric-arc-furnace steel mills use a tremendous amount of power, and this project is a big step toward keeping up with that demand.
“Mississippi County has become one of the major heavy industrial sites in the United States, producing more steel than any county in the United States,” Chitwood said. “And one of the necessities is to have electric power.”
Chitwood says solar energy is relatively quick to install, and when coupled with storage batteries, it becomes reliable.
“You just have to have power to sell if you’re going to grow jobs,” Chitwood said. “That’s what it’s come down to now.”
Steel River is expected to generate nearly $300 million in new tax revenue over its lifetime, helping fund local schools, public safety and roads.
It’s also expected to create around 700 on-site construction jobs, with hundreds more supporting local hotels, restaurants and suppliers across the region.
“The steel industry continues to grow in Mississippi County,” Chitwood said. “There’s hardly a week goes by that we don’t have an inquiry from a company looking to come in and locate where they can buy fairly directly.”
The Steel River Energy Center will use 100% U.S.-made structural steel, nearly all of it produced in Mississippi County, along with domestically manufactured solar panels from First Solar.
“Mississippi County has been on a winning streak as far as attracting big industries,” Chitwood said. “I do think we’ve turned a corner on our long-range industrial strategy that will pay big dividends over the next generation.”
Construction on the first two phases is now underway following the close of financing.
The full project is expected to be complete by 2029.
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