Recurrent Energy Closes $513 Million in Financing for 1,200 MWh Energy Storage Project in Arizona
Canadian Solar Inc. - Common Shares (CSIQ)
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Source: PR Newswire
Papago Storage, the largest energy storage project in Arizona, holds a 20-year tolling agreement with Arizona Public Service Company.GUELPH, ON, June 20, 2024 /PRNewswire/ -- Recurrent Energy, a subsidiary of Canadian Solar Inc. ("Canadian Solar") (NASDAQ: CSIQ) and a global developer, owner, and operator of solar and energy storage assets, today announced it has secured $513 million in project financing for its landmark Papago Storage project located in Maricopa County, Arizona. Construction of the 1,200 MWh Papago Storage is slated to commence in the third quarter of 2024, with commercial operations expected to begin in the second quarter of 2025. The project holds a 20-year tolling agreement with Arizona Public Service Company and is expected to create 200 jobs during construction. Following construction, Recurrent Energy will own and operate Papago Storage. The project will dispatch enough power for approximately 244,000 homes for four hours daily, enabling renewable energy to fur
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CSIQ
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- 8/22/24 - Beat
CSIQ
Sec Filings
- 9/11/24 - Form 144
- 8/22/24 - Form 6-K
- 8/19/24 - Form 6-K
- CSIQ's page on the SEC website