Monday, December 19, 2011

Recurrent Energy Gets $250M In Project Financing

San Francisco-based Recurrent Energy, a developer of solar power projects, reported this morning that it has received $250M in a financing round, to help it construct 20 solar photovoltaic (PV) projects throughout Ontario, Canada. The financing comes from Mizuho Corporate Bank. Recurrent said the financing will go to build out 200 MW of Solar PV projects in Ontario. Recurrent Energy is looking to take advantage of a very generous, feed-in-tariff program being run by the Ontario Power Authority, which makes it extremely lucrative to generate excess power for the Canadian power grid.