Financing ·
Recurrent Energy, a subsidiary of Canadian Solar Inc., closed $695 million in project financing and tax equity for the…
CSIQCanadian Solar Inc.
Recurrent Energy, a subsidiary of Canadian Solar Inc., closed $695 million in project financing and tax equity for the Cobalt Solar facility. The 330 MW utility-scale solar project is located in Riverside County, California, approximately 20 miles west of Blythe, with construction underway under EPC provider Blattner Energy. The financing package includes $484 million in debt led by Mitsubishi UFJ Financial Group and Nord/LB, alongside a $211 million tax equity investment from Wells Fargo. Commercial operation is expected by the end of 2027, generating enough electricity to power approximately 82,000 homes annually and contributing roughly $14 million in property tax revenues to Riverside County. Canadian Solar Inc. operates as a leading manufacturer of solar photovoltaic modules and provider of renewable energy solutions.