Recurrent Energy Signs 10-Year PPA in Spain

Recurrent Energy, a subsidiary of Canadian Solar Inc., has signed a 10-year Power Purchase Agreement (PPA) with a major U.S. technology company for its 300 MWp solar project in Tordesillas, Spain, set to begin operations by 2026. This project is expected to generate approximately 620 GWh of renewable energy annually, sufficient to power 188,000 homes and reduce CO2 emissions by 161,000 tons each year. The agreement underscores Recurrent Energy's commitment to supporting global tech firms in achieving net zero carbon emissions and reflects Spain's leadership in renewable energy. Recurrent Energy plans to own and operate the Tordesillas project, contributing to its growing portfolio in Spain, which includes over 2 GW of solar projects and 60 MWh of battery storage. The company recently secured a €1.3 billion credit facility to boost its European renewable energy initiatives, aiming to enhance its solar and energy storage capabilities across multiple countries. Overall, this partnership represents a significant step in advancing clean energy initiatives and fulfilling international climate commitments.