Recurrent Energy secures PPA for 300MW solar project in Spain
Author: PPD Team Date: December 11, 2024
Canadian Solar subsidiary Recurrent Energy has signed a ten-year power purchase agreement (PPA) with a US-based technology company for renewable energy from its Tordesillas solar photovoltaic (PV) project in Valladolid, Castilla y León, Spain.
The 300MW project, expected to be operational by 2026, will generate 620 gigawatt hours (GWh) annually, powering 188,000 households and reducing CO₂ emissions by 161,000 tonnes annually.
Recurrent Energy plans to retain ownership and operation of the solar facility upon energization. The company’s Spanish pipeline exceeds 2GW of solar projects and 60 megawatt hours (MWh) of battery energy storage.
In addition to the PPA, Recurrent Energy secured a €1.3 billion ($1.41 billion) credit facility to accelerate renewable energy projects across Europe, including Spain, Italy, the UK, the Netherlands, and France.
Recurrent Energy CEO Ismael Guerrero emphasized the company’s commitment to helping major global customers achieve net-zero carbon goals, highlighting the competitive value of renewable energy investments.
