Recurrent Energy, a subsidiary of Canadian Solar Inc., has secured a €1.3 billion multi-currency revolving credit facility with ten banks for renewable energy projects in Europe. Signed in Seville, Spain, it will support the construction of solar and battery projects across Spain, Italy, the UK, the Netherlands, France, and Germany. Initially, the facility will support the construction of nearly 1 GW of solar capacity, primarily in Spain and the United Kingdom. The facility, available for three years with optional extensions, can increase from €674 million to €1.3 billion. It offers financing for both full merchant and contracted projects in euros and British pounds. Banco Santander CIB and ING are key players, ensuring compliance with green financing standards. Other participating banks include ABN AMRO, BBVA, Banco Sabadell, Rabobank, HSBC, Intesa Sanpaolo, Natwest, and NORD/LB.
Recurrent Energy secures €1.3 billion credit
The €1.3 billion green facility, available for three years with optional extensions, is initially sized at €674 million. (Image Credit: Recurrent Energy)
Nova Energy Limited received resource consent for Te Rahui solar farm, scheduled for a financial decision by early 2025. (Image Source: Meridian Energy)
AfDB funded two 15 MW solar plants in Chad to generate 61 GWh annually and cut emissions by 49,000 tons per year. (Image Credit/Source: LCEC/Pixabay)
Algeria and GE Vernova discussed 15 GW renewable energy projects, including solar, as Sonelgaz led talks in Atlanta. (Image Source:Zawya)
LRE powered up Morrow Lake Solar, supplying 200 MW to Microsoft with innovative solar tech and eco-friendly land use. (Image Credit/Source: StockSnap/Pixabay)