Recurrent Energy Secures $250M In Project Portfolio Financing

Recurrent Energy, a solar project developer, has secured a four-year construction revolver credit facility of $250 million from Mizuho Corporate Bank. The facility will support the construction of 20 solar photovoltaic projects throughout the province of Ontario, the company says.

With this financing, Recurrent Energy will begin construction on the first phase of solar developments in Ontario. When completed, the 20 solar developments will provide more than 200 MW of power to residents in the province, according to Recurrent Energy. The projects are all under the Ontario Power Authority's feed-in-tariff program.

Mizuho Corporate Bank was the lead arranger and administration agent for this financing agreement.

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