Recurrent Energy, a global solar and energy storage developer, has secured BRL 343 million in project financing from Banco do Nordeste do Brasil S.A. for its Jaiba III solar project in Brazil. The 152 MW project, financed over 22 years, includes construction and operation phases, with debt tied to Brazil’s National Consumer Price Index for economic alignment. It has a 15-year, inflation-adjusted PPA through a private auction with Usiminas, Brazil’s leading flat steel company. Expected to commence operation in Q4 2024, the project will employ nearly 900 people and annually displace around 150,000 tons of CO2.
Recurrent Energy expands Latin America solar portfolio
Canadian Solar’s BiHiKu modules power Recurrent Energy’s Jaiba III solar project in Brazil. (Image Credit: Recurrent Energy)
The dual-use project integrates agriculture under solar panels and floating aquaculture with energy storage. (Image Source: PRNewswire)
The Horsham project combines solar and battery storage, supporting grid stability and peak demand management. (Image Credit/Source: Atimedia/Pixabay)
The 20 MW solar project actively supports Eramet’s SBTi roadmap and climate goals. (Image Source: SolarPanal/Pixabay)
Sherco Solar is the Upper Midwest’s largest solar project, set to power 150,000 homes when fully operational. (Image Source: Xcel Energy)