Canadian Solar invests up to $1.4b in European clean energy

Recurrent Energy, a subsidiary of Canadian Solar specialising in solar technology, announced on Thursday that it had secured a multi-currency revolving credit facility totaling up to 1.3 billion euros ($1.41 billion) from 10 banks, according to Reuters.

The funds are earmarked for the development of renewable energy projects across various European nations. The agreement was formalised in Seville, Spain, between Recurrent Energy and the consortium of financial institutions.

With the growing emphasis on renewable energy expansion and the proliferation of electric vehicles, energy storage emerges as a crucial technology.

This credit facility will offer adaptable financing options for the construction of solar and battery energy storage ventures spanning Spain, Italy, the United Kingdom, the Netherlands, France, and Germany.