<\/p>\n
The financing includes a $249m construction and term loan, a $163m tax equity bridge loan and $101m letter of credit facility.<\/p>\n
Recurrent Energy, a subsidiary of Canadian Solar, has closed $513m in project finance for its energy storage project in Maricopa County, Arizona.<\/p>\n
The financial package comprises a $249m construction and term loan, a $163m tax equity bridge loan and a $101m letter of credit facility.<\/p>\n
The Papago Storage project, with a capacity of 1.2GWh, is scheduled to break ground in the third quarter of 2024 and commence commercial operations by the second quarter of 2025.<\/p>\n
The project has secured a 20-year tolling agreement with the Arizona Public Service Company, ensuring its long-term viability and contribution to the local energy grid.<\/p>\n
During the construction phase, the project will create 200 jobs, supporting the local economy.<\/p>\n
The energy storage system will have the capacity to dispatch power, which will be sufficient to supply 244,000 homes for four hours each day.<\/p>\n
Once operational, Recurrent Energy will maintain ownership and operation of the facility.<\/p>\n
Recurrent Energy CEO Ismael Guerrero stated: \u201cWhen we began developing Papago Storage in 2016, the Arizona storage market was in its infancy.<\/p>\n
\u201cToday, Arizona is one of the fastest-growing markets for energy storage in the United States, bolstered by the state\u2019s expanding economy and cost-effective renewable energy resources.<\/p>\n
<\/p>","protected":false},"excerpt":{"rendered":"
The financing includes a $249m construction and term loan, a $163m tax equity bridge loan and $101m letter of credit facility. Recurrent Energy, a subsidiary of Canadian Solar, has closed $513m in project finance for its energy storage project in Maricopa County, Arizona. The financial package comprises a $249m construction and term loan, a $163m […]<\/p>\n","protected":false},"author":1,"featured_media":1945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bez-rubriki"],"featured_image_src":{"landsacpe":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/06\/Money-44.jpeg",602,401,false],"list":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/06\/Money-44-463x348.jpeg",463,348,true],"medium":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/06\/Money-44-300x200.jpeg",300,200,true],"full":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/06\/Money-44.jpeg",602,401,false]},"_links":{"self":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/1944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/comments?post=1944"}],"version-history":[{"count":1,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/1944\/revisions"}],"predecessor-version":[{"id":1946,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/1944\/revisions\/1946"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media\/1945"}],"wp:attachment":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media?parent=1944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/categories?post=1944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/tags?post=1944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}