Recurrent Energy secures €61.5m for Italy-based PV & storage project

Santander Bank has provided €61.5 million in non-recourse financing to Recurrent Energy for its Italy-based 124 MW solar portfolio and co-located battery storage system.

By Karthik Srivasthav G 24 Jun 2025 in Business Bytes EMEA Bytes

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The 124 MW solar portfolio with battery storage has been funded through non-recourse financing led by Santander Bank. Image Source: Recurrent Energy

Recurrent Energy, a US-based developer of solar and energy storage projects and a subsidiary of Canadian Solar, has secured €61.5 million in non-recourse financing from Santander Bank. The funding supports a 124 MW operational solar portfolio in Italy and includes the construction of a co-located battery energy storage system. The portfolio is held through a privately owned Italian real estate investment fund, majority-controlled by Recurrent Energy. The integrated financing structure aims to support grid stability and improve project revenue through the addition of storage. Recurrent Energy’s global operations include 11.6 GW of completed solar capacity and 4.5 GWh of energy storage. Earlier this year, Recurrent Energy also secured a $415 million global credit facility to support its international project pipeline.

#Italy #Financing #Santander Bank #Recurrent Energy

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