Recurrent Energy secures multi-currency funding

Recurrent Energy, a subsidiary of Canadian Solar Inc., has secured a €110 million ($120 million) multi-currency facility from an international consortium of banks led by Investec Bank Plc. The facility includes a €55 million term loan and a €55 million revolving credit facility spanning three years. This funding supports Recurrent Energy’s global solar PV and energy storage project pipeline, facilitating its transition to an independent power producer (IPP) and accelerating its growth strategy. As of January 31, 2024, Recurrent Energy’s solar PV project pipeline stands at 27 GW, with an energy storage pipeline of 55 GWh.