Recurrent Energy secures EIB loan for solar expansion

US-based Recurrent Energy, a subsidiary of Canadian Solar Inc., has secured a €50 million loan from the European Investment Bank (EIB) for solar energy projects in Italy. The five-year facility aligns with the EIB’s focus on Renewable Energy, Climate Action, and Economic Cohesion. Since 2017, Recurrent Energy has been expanding its Italian operations and recently launched a 51 MW solar PV project in Marsala, Sicily. The compay has a substantial pipeline in the EMEA region, including 10.3 GWp of PV and 32.8 GWh of battery storage.