Recurrent Energy Secures $260 Million Financing for Blue Moon Solar Project in Kentucky
Canadian Solar (NASDAQ: CSIQ) subsidiary Recurrent Energy has secured $260 million in project financing and tax equity from U.S. Bank for its Blue Moon Solar project in Harrison County, Kentucky. The 94 MW solar facility, currently under construction, is expected to begin commercial operations in 2026.
The project features a power purchase agreement with Constellation, who will purchase both power and renewable energy certificates. This marks Recurrent Energy's first project in Kentucky, expected to create hundreds of construction jobs and generate significant local tax revenue. The company will maintain ownership and operation of the facility after completion.
As of March 2025, Recurrent Energy has developed approximately 12 GWp of solar projects and 6 GWh of energy storage projects globally, with a pipeline of 25 GWp solar and 69 GWh storage capacity, excluding China.
Canadian Solar (NASDAQ: CSIQ), tramite la sua controllata Recurrent Energy, ha ottenuto un finanziamento di progetto e capitali fiscali per 260 milioni di dollari da U.S. Bank per il suo progetto Blue Moon Solar nella contea di Harrison, Kentucky. L'impianto solare da 94 MW, attualmente in costruzione, dovrebbe entrare in esercizio commerciale nel 2026.
Il progetto prevede un contratto di acquisto di energia con Constellation, che acquister脿 sia l'energia elettrica sia i certificati di energia rinnovabile. Questo rappresenta il primo progetto di Recurrent Energy in Kentucky, che si prevede creer脿 centinaia di posti di lavoro durante la costruzione e generer脿 significative entrate fiscali locali. L'azienda manterr脿 la propriet脿 e la gestione dell'impianto dopo il completamento.
Ad marzo 2025, Recurrent Energy ha sviluppato circa 12 GWp di progetti solari e 6 GWh di progetti di accumulo energetico a livello globale, con un portafoglio di 25 GWp di capacit脿 solare e 69 GWh di capacit脿 di accumulo, escludendo la Cina.
Canadian Solar (NASDAQ: CSIQ), a trav茅s de su filial Recurrent Energy, ha asegurado 260 millones de d贸lares en financiamiento de proyectos y capital fiscal de U.S. Bank para su proyecto Blue Moon Solar en el condado de Harrison, Kentucky. La planta solar de 94 MW, actualmente en construcci贸n, se espera que comience operaciones comerciales en 2026.
El proyecto incluye un acuerdo de compra de energ铆a con Constellation, que comprar谩 tanto la energ铆a como los certificados de energ铆a renovable. Este es el primer proyecto de Recurrent Energy en Kentucky, y se espera que genere cientos de empleos durante la construcci贸n y un importante ingreso fiscal local. La compa帽铆a mantendr谩 la propiedad y operaci贸n de la planta tras su finalizaci贸n.
A marzo de 2025, Recurrent Energy ha desarrollado aproximadamente 12 GWp de proyectos solares y 6 GWh de proyectos de almacenamiento energ茅tico a nivel mundial, con una cartera de 25 GWp de capacidad solar y 69 GWh de almacenamiento, excluyendo China.
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鞚� 頂勲鞝濏姼電� Constellation瓿检潣 鞝勲牓 甑Г 瓿勳暯鞚� 韽暔頃橂┌, 鞝勲牓瓿� 鞛儩鞐愲剤歆� 鞚胳靹� 氇憪毳� 甑Г頃� 鞓堨爼鞛呺媹雼�. 鞚措姅 Recurrent Energy鞚� 旒勴劙韨れ＜ 觳� 頂勲鞝濏姼搿�, 瓯挫劋 旮瓣皠 霃欖晥 靾橂氨 臧滌潣 鞚检瀽毽ゼ 彀届稖頃橁碃 歆�鞐� 靹胳垬鞐� 韥矊 旮办棳頃� 瓴冹溂搿� 旮半寑霅╇媹雼�. 鞕勱车 頉勳棎霃� 須岇偓臧� 鞁滌劋鞚� 靻岇湢甓岅臣 鞖挫榿鞚� 鞙犾頃� 瓴冹瀰雼堧嫟.
2025雲� 3鞗� 旮办鞙茧 Recurrent Energy電� 鞝� 靹戈硠鞝侅溂搿� 鞎� 12GWp鞚� 韮滌枒甏� 頂勲鞝濏姼鞕� 6GWh鞚� 鞐愲剤歆� 鞝�鞛� 頂勲鞝濏姼毳� 臧滊皽頄堨溂氅�, 欷戧淡鞚� 鞝滌櫢頃� 25GWp 韮滌枒甏� 氚� 69GWh 鞝�鞛� 鞖╇焿鞚� 頂勲鞝濏姼 韺岇澊頂勲澕鞚胳潉 氤挫湢頃橁碃 鞛堨姷雼堧嫟.
Canadian Solar (NASDAQ : CSIQ), par l'interm茅diaire de sa filiale Recurrent Energy, a obtenu un financement de projet et des capitaux fiscaux de 260 millions de dollars aupr猫s de U.S. Bank pour son projet Blue Moon Solar dans le comt茅 de Harrison, Kentucky. L'installation solaire de 94 MW, actuellement en construction, devrait commencer ses op茅rations commerciales en 2026.
Le projet comprend un contrat d'achat d'茅lectricit茅 avec Constellation, qui ach猫tera 脿 la fois l'茅lectricit茅 et les certificats d'茅nergie renouvelable. Il s'agit du premier projet de Recurrent Energy dans le Kentucky, qui devrait cr茅er des centaines d'emplois pendant la construction et g茅n茅rer des recettes fiscales locales importantes. L'entreprise conservera la propri茅t茅 et l'exploitation de l'installation apr猫s son ach猫vement.
En mars 2025, Recurrent Energy a d茅velopp茅 environ 12 GWc de projets solaires et 6 GWh de projets de stockage d'茅nergie 脿 l'茅chelle mondiale, avec un portefeuille de 25 GWc de capacit茅 solaire et 69 GWh de capacit茅 de stockage, hors Chine.
Canadian Solar (NASDAQ: CSIQ)-Tochtergesellschaft Recurrent Energy hat von der U.S. Bank eine Projektfinanzierung und Steuereigenkapital in H枚he von 260 Millionen US-Dollar f眉r ihr Blue Moon Solar-Projekt im Harrison County, Kentucky erhalten. Die 94 MW gro脽e Solaranlage, die sich derzeit im Bau befindet, soll 2026 den kommerziellen Betrieb aufnehmen.
Das Projekt beinhaltet einen Stromabnahmevertrag mit Constellation, die sowohl Strom als auch erneuerbare Energiezertifikate erwerben wird. Dies ist Recurrent Energys erstes Projekt in Kentucky, das voraussichtlich hunderte Arbeitspl盲tze w盲hrend der Bauphase schafft und erhebliche lokale Steuereinnahmen generiert. Das Unternehmen wird nach Fertigstellung Eigent眉mer und Betreiber der Anlage bleiben.
Stand M盲rz 2025 hat Recurrent Energy weltweit etwa 12 GWp an Solarprojekten und 6 GWh an Energiespeicherprojekten entwickelt, mit einer Projektpipeline von 25 GWp Solar- und 69 GWh Speicherleistung, ohne China.
- Secured substantial $260 million financing for the Blue Moon Solar project
- Signed power purchase agreement with Constellation, ensuring revenue stream
- Will create hundreds of construction jobs and generate significant tax revenue for Harrison County
- Demonstrates continued expansion with first Kentucky project
- Strong project pipeline of 25 GWp solar and 69 GWh storage capacity
- Project won't be operational until 2026, delaying revenue generation
- Significant capital expenditure required for project development
Insights
Canadian Solar's subsidiary secured $260M financing for a 94MW Kentucky solar project, strengthening their renewable portfolio and revenue potential.
Recurrent Energy has successfully closed a
The 94 MW facility's power purchase agreement (PPA) with Constellation is particularly noteworthy as it provides long-term revenue visibility and de-risks the project substantially. PPAs are the gold standard in renewable project development as they secure predictable cash flows regardless of wholesale electricity price fluctuations. This arrangement effectively transforms an inherently variable energy source into a stable financial asset.
This represents Recurrent Energy's first entry into Kentucky's energy market, which has strategic importance as the state transitions from its traditional coal-based electricity generation. The project expands Canadian Solar's operational footprint to a new state, contributing to their geographic diversification strategy across North America.
The expected 2026 commercial operation timeline is reasonable for a utility-scale solar project of this size. When viewed in context of Recurrent Energy's broader development pipeline of approximately 25 GWp solar and 69 GWh storage capacity, this project represents about
The investment aligns with Canadian Solar's strategic pivot from being primarily a module manufacturer to becoming an integrated developer, owner, and operator of renewable assets. This transition to owning long-term revenue-generating assets should help mitigate the cyclicality and margin pressure typically associated with solar manufacturing operations.
94 MW Solar Facility Holds Power Purchase Agreement with Constellation
Constellation will purchase power and renewable energy certificates produced by the 94 MW energy facility under a power purchase agreement with Recurrent Energy. Located in
Jason
"We believe everyone has a role to play in creating a sustainable future, and financing a project like Blue Moon is one way we can be responsible stewards of the environment," said Darren Van't Hof, Managing Director of Environment Finance for
Ismael Guerrero, CEO of Recurrent Energy, added, "We are pleased to invest in
Blue Moon Solar is Recurrent Energy's first project in
About Recurrent Energy
Recurrent Energy, a subsidiary of 听is one of the world's largest and most geographically diversified utility-scale solar and energy storage project development, ownership, and operations platforms. With an industry-leading team of in-house energy experts, Recurrent Energy serves as Canadian Solar's global development and power services business. To date, Recurrent Energy has successfully developed, built, and connected approximately 12 GWp of solar projects and 6 GWh of energy storage projects across six continents. As of March 31, 2025, its global pipeline comprises approximately 25听GWp听of solar power and over 69 GWh听of energy storage capacity, excluding
About Canadian Solar
Canadian Solar听is one of the world's largest solar technology and renewable energy companies. Founded in 2001 and headquartered in听Kitchener,
Safe Harbor/Forward-Looking Statements
Certain statements in this press release, including those regarding the Company's expected future shipment volumes, revenues, gross margins, and project sales are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the听U.S.听Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "may", "will", "expect", "anticipate", "future", "ongoing", "continue", "intend", "plan", "potential", "prospect", "guidance", "believe", "estimate", "is/are likely to" or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the adoption of solar and battery energy storage technologies; our growth strategies, future business performance, and financial condition; our transition to a long-term owner and operator of clean energy assets and expansion of project pipelines; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks were described in the Company's filings with the听Securities and Exchange Commission, including its annual report on Form 20-F filed on听April 30, 2025. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and听Canadian Solar听undertakes no duty to update such information, except as required under applicable law.
Canadian Solar Inc. Investor Relations Contact
Wina Huang
Investor Relations
Canadian Solar Inc. [email protected]听
Recurrent Energy Media Inquiries
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Recurrent Energy
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FAQ
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