Recurrent Energy secures $415M global credit facility

Recurrent Energy, a US-based solar and energy storage developer, has secured a $415 million multi-currency credit facility from Banco Santander, Rabobank, Intesa Sanpaolo, and Morgan Stanley. According to Recurrent Energy, the financing has strengthened its flexibility and will support expansion as an independent power producer globally. The funding is intended to accelerate clean energy deployments while it maintains a develop-and-sell approach in select markets. as per Recurrent Energy. The facility includes an accordion feature for upsizing and allows disbursements in USD, EUR, GBP, and AUD. As of December 2024, Recurrent Energy has delivered 11 GW of solar and 3 GWh of storage projects. The company also reported a development pipeline exceeding 27 GW of solar and 68 GWh of storage capacity across six continents.