{"id":1509,"date":"2024-07-30T11:46:08","date_gmt":"2024-07-30T02:46:08","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=1509"},"modified":"2024-07-30T11:46:08","modified_gmt":"2024-07-30T02:46:08","slug":"recurrent-energy-to-bolster-its-italian-clean-energy-portfolio-with-e50-million-euro-facility-from-the-european-investment-bank","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2024\/1509.html","title":{"rendered":"Recurrent Energy to Bolster its Italian Clean Energy Portfolio with \u20ac50 Million Euro Facility from the European Investment Bank"},"content":{"rendered":"\n<p>GUELPH, ON,&nbsp;July 24, 2024&nbsp;\/PRNewswire\/ &#8212;&nbsp;<a href=\"https:\/\/recurrentenergy.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Recurrent Energy<\/a>, a subsidiary of&nbsp;<a href=\"http:\/\/www.canadiansolar.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Canadian Solar Inc.<\/a>&nbsp;(&#8220;Canadian Solar&#8221;) (NASDAQ: CSIQ) and a global developer, owner, and operator of solar and energy storage assets, announced today the successful financial close on a \u20ac50 million loan from the&nbsp;European Investment Bank&nbsp;(&#8220;EIB&#8221;). The facility will support the development and construction of a solar energy portfolio in&nbsp;Italy.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>The loan, a \u20ac50 million 5-year term facility, aligns with the EIB&#8217;s lending priorities on Renewable Energy, Climate Action, and Social and Economic Cohesion. This transaction strengthens Recurrent Energy&#8217;s leadership in\u00a0Italy&#8217;s\u00a0clean energy transition, enhancing the country&#8217;s renewable energy capacity and supporting\u00a0Europe&#8217;s\u00a0goals for reduced emissions and increased energy independence.<\/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>,\u00a0commented, &#8220;We are excited to extend our banking relationship with such an entity as the EIB. This transaction is a pivotal step toward our goal of becoming one of the largest Independent Power Producers (IPPs) globally. It aligns with our commitment to fostering a more sustainable economy in\u00a0Europe\u00a0and beyond. We look forward to building a long-term relationship with the EIB to support our mutual objectives.&#8221;<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Recurrent Energy has been expanding its presence in\u00a0Italy\u00a0since 2017. It has recently inaugurated its 51 MW solar PV project Anguillara located in Marsala,\u00a0Sicily, Italy, making the country a reference point for its projects in the rest of\u00a0Europe. Recurrent Energy currently has a pipeline in EMEA that includes 10.3 GWp in Solar PV and 32.8 GWh in battery energy storage.<\/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 battery energy storage project development, ownership, and operations platforms. With an industry-leading team of in-house energy experts, Recurrent Energy is a wholly owned subsidiary of Canadian Solar Inc.\u202fand functions as&nbsp;Canadian Solar&#8217;s&nbsp;global development and power services business. Additional details are available at&nbsp;<a href=\"http:\/\/www.recurrentenergy.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">http:\/\/www.recurrentenergy.com\/<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GUELPH, ON,&nbsp;July 24, 2024&nbsp;\/PRNewswire\/ &#8212;&nbsp;Recurrent Energy, a subsidiary of&nbsp;Canadian  [&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-1509","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\/1509","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=1509"}],"version-history":[{"count":2,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1509\/revisions"}],"predecessor-version":[{"id":1511,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1509\/revisions\/1511"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=1509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=1509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=1509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}