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    Recurrent purchases a 420MWp solar photovoltaic portfolio in Spain

    The subsidiary of Canadian Solar, Recurrent Energy, has acquired a photovoltaic portfolio in southern Spain, boasting a capacity exceeding 420MWp. Recurrent Energy is currently involved in various developmental stages of projects across Spain and anticipates commencing construction on over 1GW of solar projects within the country in 2024.

     

    Situated in Carmona, a municipality in Seville (Andalusia), the recently acquired portfolio encompasses four projects named Rey I, II, III, and IV. These projects are presently undergoing construction and will utilize Canadian Solar’s TopBiHiKu7 N-type bifacial TOPCon (Tunnel Oxide Passivated Contact) technology modules.

     

    Upon completion, Project Rey is poised to not only generate clean, renewable energy but also foster economic and social growth within the local community, including job creation and bolstering regional economic development.

     

    It is estimated that the Rey portfolio will yield approximately 916,000MWh of clean energy annually, catering to the energy needs of over 275,000 homes in the region and offsetting around 184,000 tonnes of CO2 emissions.

     

    Chief executive of Recurrent Energy, Ismael Guerrero, said “The acquisition of this solar portfolio reflects our commitment to grow our assets both in Spain and around the world.”

     

    “While our goal is to strategically grow our development pipeline and assets under management through greenfield development, we continue to look for high-value acquisition opportunities. We are delighted to add the Rey projects to our growing portfolio.”

     

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