{"id":1448,"date":"2024-04-26T18:36:26","date_gmt":"2024-04-26T09:36:26","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=1448"},"modified":"2024-04-26T18:36:26","modified_gmt":"2024-04-26T09:36:26","slug":"recurrent-energy-secures-343-million-brazilian-reais-financing-for-152-mw-solar-project-in-brazil","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2024\/1448.html","title":{"rendered":"RECURRENT ENERGY SECURES 343 MILLION BRAZILIAN REAIS FINANCING FOR 152 MW SOLAR PROJECT IN BRAZIL"},"content":{"rendered":"\n<p>GUELPH, ON,&nbsp;April 15, 2024&nbsp;\/PRNewswire\/ &#8212;&nbsp;<a href=\"https:\/\/recurrentenergy.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Recurrent Energy<\/a>, a global developer and owner of solar and energy storage assets, announced today that it has secured 343 million Brazilian reais (approximately&nbsp;$70 million) of non-recourse project financing from Banco do Nordeste do&nbsp;Brasil S.A.&nbsp;(BNB) for its Jaiba III solar project in&nbsp;Brazil.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>The 152 MWp Jaiba III project will be financed over a 22-year period spanning both construction and operation phases. Linked to the National Consumer Price Index (IPCA), the inflation-adjusted debt will enable better capital and resource alignment with the Brazilian economy.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Recurrent has secured a 15-year, inflation-adjusted power purchase agreement (PPA) for Jaiba III through a private auction with Usiminas, the leading flat steel company in\u00a0Brazil. Currently under construction, the project employs nearly 900 people and is expected to be in operation in the fourth quarter of 2024. Jaiba III is powered by\u00a0Canadian Solar&#8217;s\u00a0high efficiency\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/www.csisolar.com\/module\" target=\"_blank\">BiHiKu<\/a>\u00a0modules and will displace approximately 150,000 tons of carbon dioxide annually.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>Ismael Guerrero, CEO of Recurrent Energy<\/strong>,\u00a0said, &#8220;We are pleased to extend our long-standing partnership with BNB.\u00a0Brazil&#8217;s\u00a0steadfast commitment to sustainable public sector initiatives for clean and affordable solar energy infrastructure has solidified its position as the largest renewable energy market in\u00a0Latin America. BNB&#8217;s enduring participation in our solar portfolio reinforces our confidence in the long-term potential of\u00a0Brazil&#8217;s\u00a0renewable energy sector.&#8221;<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Recurrent owns or operates approximately 2 GWp of solar projects across\u00a0Latin America. These projects are either in operation or planned to reach commercial operation date in 2024. With offices in Bogot\u00e0,\u00a0Mexico City,\u00a0Santiago, and S\u00e3o Paulo, Recurrent maintains an active development pipeline of 5 GWp of solar projects and 2 GWh storage projects in\u00a0Latin America.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>About Recurrent Energy<\/strong><\/p>\n\n\n\n<p>Recurrent Energy is one of the world&#8217;s largest and most geographically diversified utility-scale solar and energy storage project development, ownership and operations platforms.&nbsp;With an industry-leading team of in-house energy experts, Recurrent Energy is a wholly-owned subsidiary of&nbsp;<a href=\"https:\/\/www.canadiansolar.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Canadian Solar Inc.<\/a>\u202fand functions as&nbsp;Canadian Solar&#8217;s&nbsp;global development and power services business. Additional details are available at&nbsp;<a href=\"https:\/\/www.recurrentenergy.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">www.recurrentenergy.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GUELPH, ON,&nbsp;April 15, 2024&nbsp;\/PRNewswire\/ &#8212;&nbsp;Recurrent Energy, a global developer and owner  [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1448","post","type-post","status-publish","format-standard","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/comments?post=1448"}],"version-history":[{"count":1,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1448\/revisions"}],"predecessor-version":[{"id":1449,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1448\/revisions\/1449"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=1448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=1448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=1448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}