Recurrent Energy, a subsidiary of Canadian Solar Inc., has successfully closed non-recourse project financing for its 119 MWh solar project in Aguascalientes, Mexico, known as the Horus Solar project. Recurrent owns 49% of the project, with Korea Electric Power Corporation (KEPCO) and Sprott holding 15% and 36%, respectively. The financing, totaling $51 million, was split into two tranches between Korea Eximbank ($43 million) and KEB Hana Bank ($8 million). The project, equipped with Canadian Solar’s BiHiku bifacial modules, was awarded a PPA during Mexico’s third renewable energy auction, selling 75% of its electricity for 15 years and Clean Energy Certificates for 20 years.
Recurrent Energy secures USD 51M financing for Aguascalientes PV project
Recurrent Energy has implemented 9 GW of solar and 3 GWh of storage initiatives spanning six continents, with over 70% of generated energy committed to long-term agreements. (Image Credit: SolarBytes).
The Federal Ministry supports German start-ups with the Young Innovators package for showcasing at the event. (Image Source: The Smarter E Europe)
The solar project is projected to generate 295 GWh annually, contributing to the Philippines’ target of 35% renewable energy by 2030. (Image Credit/Source: Succo/Pixabay)
The Caucasus region will benefit from Astronergy’s cutting-edge photovoltaic technologies via Photomate. (Image Credit/Source: Linkedin/Photomate Eurasia)
The solar project supports Synopsys’ science-based targets of reducing scope 1 and 2 GHG emissions by 55% by 2032. (Image Credit/Source: MRganso/Pixabay)