Recurrent closes financing, starts construction of 100 MWac Sunflower solar project in Mississippi

Recurrent Energy, LLC has commenced construction on the 100 MWac Sunflower Solar Project located in Sunflower County, Mississippi. To support the construction of the Sunflower solar project, Recurrent Energy has closed debt financing totaling over US$146 million, inclusive of construction loan and letter of credit commitments. The debt financing was provided by Norddeutsche Landesbank (Nord/LB) and Rabobank.

Sunflower is one of the first utility-scale solar projects to be constructed under a Build Transfer Agreement (BTA) in the United States. Recurrent Energy signed a BTA with Entergy Mississippi in 2018 designating the regulated utility to own the Sunflower solar project when it reaches commercial operation in early 2022. The BTA was approved via unanimous vote by the Mississippi Public Service Commission in April 2020.

The project will use Canadian Solar's high-efficiency modules. 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.