Recurrent Energy Secures Financing for 20-Project Build

SAN FRANCISCO-Solar project developer, Recurrent Energy, has secured a four-year construction revolver credit facility of $250 million from Mizuho Corporate Bank to support the construction of 20 solar photovoltaic projects throughout the province of Ontario, Canada. The credit facility is one of the largest non-recourse solar financings for a solar PV portfolio in North America.

According to Arno Harris, CEO of the Recurrent, the financing “signals a major step for Recurrent Energy and Ontario: the build-out of some 200 MW of solar power plants. This transaction provides yet more evidence that solar is a mainstream energy source attracting significant investment from established financial partners. This is what solar looks like at scale.”