(Houston Chronicle) Recurrent Energy, the U.S. arm of solar developer Canadian Solar, has closed financing for its solar farm under construction 50 miles northeast of Houston, the company said Tuesday.
Recurrent will receive $120 million in construction debt, a letter of credit facility and a term facility for the project from Rabobank, Nord LB and U.S. Bank, it said in a statement.
The company also secured $80 million in tax equity financing, which allows business and individuals to invest in solar projects in return for incentives and tax benefits, through U.S. Bancorp Impact Finance, a subsidiary of U.S. Bank, according to Recurrent.
