Recurrent Energy Breaks Ground on 100 MW Sunflower Solar Project

Largest solar project in Mississippi to create hundreds of local jobs and bring clean power to Entergy Mississippi customers
Canadian Solar Inc. (“Canadian Solar”) (NASDAQ: CSIQ) today announced its wholly-owned subsidiary, Recurrent Energy, LLC (“Recurrent Energy”), commenced construction on the 100 MWac Sunflower Solar Project located in Sunflower County, Mississippi. To support construction of the Sunflower solar project, Recurrent Energy recently closed debt financing totaling over $146 million, inclusive of construction loan and letter of credit commitments. The debt financing was provided by Norddeutsche Landesbank (“Nord/LB”) and Rabobank.
Sunflower is one of the first utility-scale solar projects to be constructed under a Build Transfer Agreement (“BTA”) in the United States. Recurrent Energy signed a BTA with Entergy Mississippi in 2018 designating the regulated utility to own the Sunflower solar project when it reaches commercial operation in early 2022. The BTA was approved via unanimous vote by the Mississippi Public Service Commission in April 2020. 
“With the ongoing financing and construction challenges due to the pandemic, I am particularly proud that our team secured the necessary financing for construction and has executed on the ground to begin building what is expected to be the largest solar project in the Magnolia State. This demonstrates both the dedication and capabilities of our Recurrent Energy team and the strength of our trusted financing partners, Nord/LB and Rabobank,” said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. “We are very pleased to be charging ahead on the Sunflower solar project and look forward to successfully

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