{"id":717,"date":"2021-04-28T16:37:48","date_gmt":"2021-04-28T07:37:48","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=717"},"modified":"2021-05-20T13:14:08","modified_gmt":"2021-05-20T04:14:08","slug":"recurrent-energy-breaks-ground-on-100-mw-sunflower-solar-project","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2021\/717.html","title":{"rendered":"RECURRENT ENERGY BREAKS GROUND ON 100 MW SUNFLOWER SOLAR PROJECT"},"content":{"rendered":"
Largest solar project in Mississippi to create hundreds of local jobs and bring clean power to Entergy Mississippi customers<\/strong><\/h5>\n
\n

GUELPH, ON,\u00a0April 22, 2021\u00a0\/PRNewswire\/ —\u00a0Canadian Solar Inc.<\/a><\/span>\u00a0(“Canadian Solar”) (NASDAQ: CSIQ) today announced its wholly-owned subsidiary,\u00a0Recurrent Energy, LLC<\/span><\/a>\u00a0(“Recurrent Energy”), commenced construction on the 100\u00a0MWac Sunflower Solar Project\u00a0located in\u00a0Sunflower County, Mississippi. To support construction of the\u00a0Sunflower\u00a0solar project, Recurrent Energy recently closed debt financing totaling over\u00a0$146 million, inclusive of construction loan and letter of credit commitments. The debt financing was provided by Norddeutsche Landesbank (“Nord\/LB”)\u00a0and\u00a0Rabobank.<\/p>\n

 <\/p>\n

Sunflower\u00a0is one of the first utility-scale solar projects to be constructed under a Build Transfer Agreement (“BTA”) in\u00a0the United States. Recurrent Energysigned a BTA with\u00a0Entergy Mississippi<\/a><\/span>in 2018 designating the regulated utility to own the\u00a0Sunflower\u00a0solar project when it reaches commercial operation in early 2022. The BTA wasapproved via unanimous vote<\/span><\/a>\u00a0by the\u00a0Mississippi Public Service Commission\u00a0in\u00a0April 2020.<\/p>\n

 <\/p>\n

“With the ongoing financing and construction challenges due to the pandemic, I am particularly proud that our team secured the necessary financing for construction and has executed on the ground to begin building what is expected to be the largest solar project in the Magnolia State. This demonstrates both the dedication and capabilities of our Recurrent Energy team and the strength of our trusted financing partners, Nord\/LB and\u00a0Rabobank,” said\u00a0Dr.\u00a0Shawn Qu, Chairman and Chief Executive Officer of\u00a0Canadian Solar. “We are very pleased to be charging ahead on the\u00a0Sunflower\u00a0solar project and look forward to successfully developing and constructing the project, creating a seamless transition of ownership to our valued customer,\u00a0Entergy Mississippi.”<\/p>\n

 <\/p>\n

The\u00a0Sunflower\u00a0solar project is expected to employ approximately 400 workers at peak construction, with 75% of those construction jobs expected to be filled by local skilled tradespeople from the area. The\u00a0Sunflower\u00a0solar project will create further economic benefits to the local community by providing local sales and property tax revenues to\u00a0Sunflower County, as well as indirect benefits such as increased local spending on the service and construction industries. The project will use\u00a0Canadian Solar’s\u00a0high-efficiency modules<\/a><\/span>. Once operational, the project will power more than 16,000 homes with low-cost, clean electricity, equivalent to displacing approximately 170,000 metric tons of CO2 per year or taking about 37,000 passenger vehicles off the road.<\/p>\n

 <\/p>\n

“The Sunflower Solar project is another important milestone in\u00a0Entergy Corporation’s\u00a0continued transformation of its power generation portfolio, meeting customers’ needs with clean, efficient sources of electricity while maintaining some of the lowest retail rates in the country,” said\u00a0Haley Fisackerly,\u00a0Entergy Mississippi\u00a0President and CEO. “Entergy’s investments in its generation portfolio transformation have resulted in substantial reductions in the company’s greenhouse gas emissions and provided significant savings to customers from lower fuel costs. Along with being able to\u00a0offer renewable energy to our customers once this project is complete, we’re pleased with the positive economic impact it will have on\u00a0Sunflower County\u00a0and the\u00a0Mississippi Delta.”<\/p>\n

 <\/p>\n

In 2001, Entergy was the first\u00a0U.S.\u00a0electric utility to voluntarily commit to capping greenhouse gas emissions. Since then, the company has renewed and strengthened its climate action goals several times. Most recently, Entergy announced its commitment to\u00a0achieving net-zero carbon emissions by 2050<\/a><\/span>. Learn more about Entergy’s leadership in creating a cleaner, more sustainable energy future at\u00a0entergy.com\/environment<\/span><\/a>.<\/p>\n<\/div>\n

 <\/p>\n

 <\/p>\n

\n

About Recurrent Energy (Canadian Solar Subsidiary)<\/h4>\n

Recurrent Energy is a leading utility-scale solar and storage project developer, delivering competitive, clean electricity to large energy buyers. Based in the\u00a0U.S., Recurrent Energy is a wholly owned subsidiary of\u00a0Canadian Solar Inc.\u00a0and functions as\u00a0Canadian Solar’s\u00a0U.S.\u00a0project development arm. Recurrent Energy has approximately 5 GW of solar and storage projects in development in the\u00a0U.S.\u00a0Additional details are available at\u00a0www.recurrentenergy.com<\/span><\/a>.<\/p>\n<\/div>\n

 <\/p>\n

 <\/p>\n

\n

About Entergy<\/h4>\n

Entergy Mississippi, LLC\u00a0provides electricity to approximately 456,000 customers in 45 counties.\u00a0Entergy Corporation\u00a0(NYSE: ETR) is an integrated energy company engaged in electric power production, transmission, and retail distribution operations. Entergy delivers electricity to 3 million utility customers in\u00a0Arkansas,\u00a0Louisiana,\u00a0Mississippi, and\u00a0Texas. Entergy owns and operates one of the cleanest large-scale\u00a0U.S.\u00a0power generating fleets with approximately 30,000 megawatts of electric generating capacity, including 8,000 megawatts of nuclear power. Headquartered in\u00a0New Orleans, Louisiana, Entergy has annual revenues of\u00a0$10 billion\u00a0and more than 13,000 employees. Learn more at\u00a0entergy.com<\/a><\/span>and follow\u00a0@Entergy<\/a><\/span>on social media.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Largest solar project in Mississippi to create hundreds of local jobs and bring clean power to Entergy Mississ […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-717","post","type-post","status-publish","format-standard","hentry","category-releases"],"_links":{"self":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/717","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=717"}],"version-history":[{"count":8,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/717\/revisions"}],"predecessor-version":[{"id":737,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/717\/revisions\/737"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}