Recurrent Energy secures $415m corporate debt financing: Advisors
Recurrent Energy, a subsidiary of Canadian Solar and a leading global developer, owner, and operator of solar and energy storage assets, announced today that it has secured a landmark multi-currency credit facility valued at up to US$415 million, backed by a consortium of four major banks.
This corporate facility offers a flexible and scalable financing solution aligned with Recurrent Energy’s strategy to expand its independent power producer (IPP) portfolio across diverse geographies and markets.
Initially sized at US$415 million, the facility includes an accordion feature, which allows for potential upsizing, and offers disbursements in USD, EUR, GBP, and AUD. This structure strengthens Recurrent Energy’s financial agility, enabling it to pursue strategic opportunities and accelerate the deployment of clean energy projects worldwide.
From Recurrent Energy’s in-house legal team, the deal involved Jeff Kalikow (Chief Legal Officer), Antonio Adami (Senior Director and General Counsel for EMEA), and Juan José Adán (Legal Counsel for Spain).
Clifford Chance has advised Recurrent Energy with a team led by Global Financial Markets partner José Guardo, working together with senior associate Pablo Cancelo and associate Ana de la Torre, with the support of Clifford Chance’s offices in Amsterdam, Perth and New York.
