Recurrent Energy secures €1.3 billion credit facility to accelerate renewable energy expansion in Europe
Type: Financing · Technology: Solar · Country: Europe (Spain, Italy · Value: $1.41B · Announced: 2026-04-21
Recurrent Energy, a solar developer under Canadian Solar, secured a €1.3 billion credit facility to expand renewable energy projects across Europe, with a focus on Spain and Italy. The financing, coordinated by leading banks, provides flexible capital access for developing new solar projects to support Europe's energy transition. The credit facility targets accelerating renewable capacity additions to reduce reliance on fossil fuels in key European markets. Canadian Solar, Recurrent Energy's parent company, will leverage this financing to scale its European portfolio. The deal underscores the growing demand for large-scale solar financing in Southern Europe's renewable energy markets.
Counterparties
- Canadian Solar Inc. (Parent Company)
- Recurrent Energy (Borrower)