KPMG advises Blackrock in its capital commitment to Recurrent Energy

Canadian Solar, a premier solar energy company and global developer of solar and energy storage assets, has announced that its subsidiary, Recurrent Energy, has secured a $500 million preferred equity investment commitment from BlackRock. The investment, which is convertible into common equity, represents 20% of Recurrent Energy’s fully diluted outstanding shares on an as-converted basis.

KPMG Abogados has provided Tax Due Diligence services to Blackrock in its capital commitment to Recurrent Energy to grow its global renewable energy platform. The Spanish tax team that led the deal was formed by M&A Tax director David Pascual (pictured), María José Machicado (M&A Tax senior manager) and Blanca Cruces (M&A Tax associate).