KITCHENER, ON, JUNE 23, 2025 – Recurrent Energy, a subsidiary of Canadian Solar Inc. (NASDAQ: CSIQ) and a leading global developer, owner, and operator of solar and battery energy storage projects, today announced the successful financial close of a landmark transaction involving its Italian portfolio. The portfolio is held through an Italian Real Estate Investment Fund (REIF), a privately held investment vehicle majority-owned by Recurrent Energy.
The transaction secures EUR 61.5 million in non-recourse debt from Santander Bank.
In addition to financing a 124 MW operating portfolio, the transaction also covers the construction of a co-located Battery Energy Storage System (BESS), representing a key structural innovation and a strategic asset for grid support and revenue optimization.
“This is a strategic milestone for Recurrent Energy in Europe,” said Ismael Guerrero, CEO of Recurrent Energy. “By successfully closing a non-recourse structure—while integrating a storage asset into the facility—we continue to demonstrate our ability to execute complex transactions that unlock value and reinforce our IPP strategy.”
This transaction aligns with Recurrent Energy’s commitment to accelerating the energy transition in Italy and across Europe through innovative financing, grid-flexible assets, and long-term sustainable development.
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