Recurrent Energy secures $50 million letter of credit from Natixis

Chicago, April 2 – Recurrent Energy, LLC closed on a $50 million letter-of-credit facility from Natixis, according to a company announcement.

This is the company’s fifth transaction with Natixis.

The facility may be increased with other banking partners.

The financing will be used for the development of utility-scale solar projects across the U.S. and Canada.

“We are very happy to again join forces with Natixis, a global leader in renewable energy financing, as we continue to expand our North American solar portfolio,” stated Shawn Qu, chairman and chief executive officer of Canadian Solar.

Recurrent Energy is a clean energy company with utility-scale solar plants. It is a subsidiary of Canadian Solar Inc., a solar power company based in Guelph, Ont.

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