Singaporean state investor Temasek Holdings has led a group of investors that acquired preferred equity interests worth $200 million in U.S.-based clean energy technology developer Cypress Creek Renewables.
Cypress Creek said that the deal represents the acquisition by the Temasek-led group of preferred stock and warrants to buy up to an aggregate 10 percent stake in the company.
The company will use the proceeds of the latest investment to support its continued growth through creation, investment, maturation and monetization of its development portfolio.
Cypress Creek will continue to operate under its existing management and add two independent directors to its board following the investment.