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)
Scatec has secured EUR 25 million from IFU, alongside equity and non-recourse debt, for its USD 85 million project financing. (Image Source: Scatec ASA)
EliTe Solar launched its 5 GW PV project in Egypt’s TEDA Suez Zone, set to begin production by September 2025. (Image Source: PRNewswire)
Part of SECI’s 2 GW ISTS initiative, the project will deliver four hours of peak power daily for 25 years. (Image Credit/Source: Pixabay/Pexels)
Ethical Power Italia’s first EPC projects in Italy, two solar farms for Encavis AG, will generate 28 GWh annually. (Image Credit/Source: TomFisk/Pexels)