“This financing signals a major step for Recurrent Energy and Ontario: the build-out of some 200 MW of solar power plants,” said Arno Harris, CEO of Recurrent Energy. “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.”
With this financing, Recurrent Energy will begin construction on the first phase of solar developments in Ontario. When completed, the 20 solar developments will provide more than 200 MW of power to residents in the province. The projects are all under the Ontario Power Authority’s feed-in tariff program (FIT), which provides long-term contracts for energy generated from renewable sources such as solar.
Mizuho Corporate Bank was the lead arranger and administration agent for this financing agreement.
Shinya Wako, Managing Executive Officer and Head of the Americas for Mizuho Corporate Bank, commented, “This agreement is a significant milestone for our involvement in the North American solar industry, and we are pleased to be partnering with Recurrent Energy, a solar developer with proven experience and expertise.”
Posts Related to Recurrent Energy Secures $250M Financing From Mizuho for 200 MW of Solar PV Projects in North America
Canadian Solar Inc. and TransCanada Corporation Announce Sales Agreement for 86MW Solar PV Project Portfolio in Ontario, CanadaONTARIO, Canada, Dec. 20, 2011 /Solar Energy News/ -- Canadian Solar Inc. (the "Company", "we" or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest ...
- Google & KKR Partner to Acquire Portfolio of Solar PV Projects in California from Recurrent Energy
NEW YORK & SAN FRANCISCO--(Solar Energy News)--Google, Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, “KKR”), and Recurrent Energy today announced an investment ...
Google and KKR Ink California Solar DealInternet giant Google and leveraged buyout specialists Kohlberg Kravis Roberts (KKR) have signed an agreement to purchase four photovoltaic power plants in California from PV project developer Recurrent Energy, a Sharp subsidiary. Although ...
Google Invests $94 Million in Solar EnergyJust before Christmas day, Google announced it has made a new $94 million investment in a portfolio of four solar photovoltaic projects currently under construction ...
- TransCanada Corp. To Purchase Solar PV Projects From Canadian Solar
Stocks were up nearly 2% in mid-afternoon trading for TransCanada Corporation after the company announced its entrance into the the solar photovoltaic (PV) generation market. ...
