{"id":20603,"date":"2025-10-21T06:00:00","date_gmt":"2025-10-21T11:00:00","guid":{"rendered":"https:\/\/recurrentenergy.com\/?p=20603"},"modified":"2025-12-02T12:11:28","modified_gmt":"2025-12-02T18:11:28","slug":"recurrent-energy-closes-825-million-in-project-financing-for-arizona-energy-projects","status":"publish","type":"post","link":"https:\/\/recurrentenergy.com\/es\/recurrent-energy-closes-825-million-in-project-financing-for-arizona-energy-projects\/","title":{"rendered":"Recurrent Energy Closes $825 Million in Project Financing for Arizona Energy Projects"},"content":{"rendered":"\n

Recurrent Energy\u2019s latest solar and energy storage projects support Arizona Public Service\u2019s record power needs<\/h3>\n\n\n\n

KITCHENER, ON, Oct. 21, 2025 \u2013<\/strong> Recurrent Energy<\/a>, a subsidiary of Canadian Solar Inc.<\/a> (\u201cCanadian Solar\u201d) (NASDAQ: CSIQ) and a global developer, owner, and operator of solar and energy storage assets, today announced it has closed $825 million in construction financing and tax equity for its Desert Bloom Storage and Papago Solar facilities. Nord\/LB, Mitsubishi UFJ Financial Group, Inc. (MUFG<\/a>), CoBank, and Siemens Financial Services provided the construction financing, and Wells Fargo provided the tax equity.<\/p>\n\n\n\n

Desert Bloom Storage and Papago Solar, both located in Maricopa County, are part of Recurrent Energy\u2019s previously announced<\/a> multi-project partnership with Arizona Public Service (APS). Desert Bloom Storage is a 600 MWh standalone energy storage facility, and Papago Solar is a 150 MWac solar power plant. Both assets are currently under construction and are expected to begin operations in the first half of 2026.<\/p>\n\n\n\n

Sondra\u00a0Martinez, Head of Project Finance-Origination at Nord\/LB<\/strong>, said, \u201cWe are excited to have supported Recurrent Energy on the landmark Desert Bloom Storage and Papago Solar financing. This transaction demonstrates Nord\/LB’s commitment to financing best-in-class projects that will deliver clean, reliable power to communities. We look forward to continuing our longstanding partnership with Recurrent Energy and to providing financing solutions in a rapidly evolving market.\u201d<\/p>\n\n\n\n

Fred Zelaya, Managing Director of Project Finance at MUFG<\/strong>, added, \u201cMUFG is pleased to support Recurrent Energy on its latest landmark transaction. Desert Bloom Storage and Papago Solar will help provide the community with reliable, carbon-free energy while enhancing the resiliency of the grid. We look forward to continuing to support Recurrent Energy\u2019s ambitious growth in the renewable energy sector.\u201d<\/p>\n\n\n\n

Ismael Guerrero, CEO of Recurrent Energy<\/strong>, stated, \u201cFor the third consecutive year, APS set a new peak energy demand record this summer. We\u2019re proud to continue supporting APS with dispatchable energy resources that enhance reliability and meet the needs of their growing customer base. We thank the APS team for their trust as we bring these projects online safely and efficiently. Together with our long-term partners at Nord\/LB, MUFG, CoBank, and Siemens Financial Services, we\u2019re building critical infrastructure that strengthens Arizona\u2019s grid and supports the state\u2019s growing economy.\u201d<\/p>\n\n\n\n

Primoris Services Corporation\u2019s Renewable Energy business is the engineering, procurement, and construction (EPC) provider for Desert Bloom Storage, while Blattner Energy is constructing Papago Solar. Both projects employ hundreds of construction workers and, once energized, will generate significant local tax revenue.<\/p>\n\n\n\n

Recurrent Energy is proud to be part of the Maricopa County community, supporting local organizations, including Arlington Elementary School. The Desert Bloom Storage and Papago Solar projects are the company\u2019s second and third developments in the county, reinforcing its long-term commitment to reliable energy infrastructure and local partnerships. In July 2025, Recurrent Energy announced<\/a> the start of operations at its 1,200 MWh Papago Storage facility with APS, which came online ahead of peak summer electricity demand. The facility operates under a 20-year tolling agreement with APS.<\/p>\n","protected":false},"excerpt":{"rendered":"

Recurrent Energy\u2019s latest solar and energy storage projects support Arizona Public Service\u2019s record power needs KITCHENER, ON, Oct. 21, 2025 \u2013 Recurrent Energy, a subsidiary of Canadian Solar Inc. (\u201cCanadian Solar\u201d) (NASDAQ: CSIQ) and a global developer, owner, and operator of solar and energy storage assets, today announced it has closed $825 million in construction…Read More<\/a><\/p>\n","protected":false},"author":35,"featured_media":20637,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"_lmt_disableupdate":"","_lmt_disable":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[132],"tags":[],"class_list":["post-20603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"acf":[],"yoast_head":"\nRecurrent Energy Closes $825 Million in Project Financing for Arizona Energy Projects - Recurrent Energy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/recurrentenergy.com\/recurrent-energy-closes-825-million-in-project-financing-for-arizona-energy-projects\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Recurrent Energy Closes $825 Million in Project Financing for Arizona Energy Projects - Recurrent Energy\" \/>\n<meta property=\"og:description\" content=\"Recurrent Energy\u2019s latest solar and energy storage projects support Arizona Public Service\u2019s record power needs KITCHENER, ON, Oct. 21, 2025 \u2013 Recurrent Energy, a subsidiary of Canadian Solar Inc. 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