Recurrent Energy concludes sale of 74.8 MW NC 102 solar photovoltaic project in Cabarrus County
Canadian Solar Inc's wholly-owned subsidiary Recurrent Energy has closed the sale of 99 percent of the partnership that owns the Class B membership interest in the 74.8 MWac/102 MWp NC 102 solar photovoltaic project, located in Cabarrus County, North Carolina, to NextEnergy Capital.
NextEnergy Capital indirectly acquired 99 percent of the interests through NextPower III, its third institutional solar fund. In May 2018, Recurrent Energy secured the debt and tax equity financing for the project from Prudential Capital Group and U.S. Bancorp Community Development Corporation.
The North Carolina project, which reached commercial operation at the end of September 2018, is one of the largest operating solar projects in North Carolina. The project has a power purchase agreement with Duke Energy Carolinas and generates enough clean solar power to meet the energy needs of approximately 12,000 homes.
Canadian Solar expects to recognize the revenue from the transaction in the fourth quarter of 2019.
Country updates
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November 19, 2019
Scout Clean Energy commissions 300 MW Ranchero wind project in Crockett County
Scout Clean Energy has completed construction and received tax equity funds for the 300 MW Ranchero Wind Farm located in Crockett County, Texas. Scout is a portfolio company of Quinbrook Infrastructur...
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November 18, 2019
Estee Lauder signs a VPPA for NextEra's 200 MW Ponderosa wind project in Beaver County
The Estée Lauder Companies Inc. has agreed to buy 22 MW of renewable energy from the Ponderosa wind farm located in Beaver County, Oklahoma. The Ponderosa Wind Project features up to 80...
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November 15, 2019
Entergy concludes acquisition of 810 MW Choctaw County Generating Station in Mississippi
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November 15, 2019
GE to supply 180 turbines for two Engie wind farms in USA
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November 15, 2019
EC Commission clears acquisition of joint control over X-Elio Energy by Brookfield and KKR
The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of joint control over X-Elio Energy, S.L. by Brookfield Asset Management Inc. and KKR & Co. Inc. whic...
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