Recurrent Energy's Spanish Solar Expansion: 420MWp Portfolio Acquisition

• Recurrent Energy's latest acquisition in Spain, the Rey portfolio, will power over 275,000 homes and reduce CO2 emissions by 184,000 tonnes annually. CEO Ismael Guerrero looks forward to expanding their green energy assets.

Canadian Solar subsidiary Recurrent Energy has acquired a 420MWp PV portfolio in the south of Spain, specifically in the municipality of Seville. The portfolio consists of four projects, Rey I, II, III, and IV, which are currently under construction and will utilize Canadian Solar's TopBiHiKu7 N-type bifacial TOPCon technology modules.

Once completed, the Rey portfolio is expected to produce approximately 916,000MWh of clean energy annually, serving the needs of over 275,000 homes in the region and displacing around 184,000 tonnes of CO2 emissions. This acquisition aligns with Recurrent Energy's goal to expand its assets in Spain and globally, while also contributing to local economic development and job creation.

Ismael Guerrero, CEO of Recurrent Energy, expressed excitement about adding the Rey projects to their growing portfolio and emphasized the company's commitment to growing their development pipeline and assets through both greenfield development and strategic acquisitions. Recurrent Energy has projects in various stages of development in Spain and plans to start construction on over 1GW of solar projects in the country in 2024.

What technology will be used in Canadian Solar's new 420MWp PV portfolio in Spain?

• Canadian Solar's new 420MWp PV portfolio in Spain will utilize TopBiHiKu7 N-type bifacial TOPCon technology modules
  
• The portfolio consists of four projects, Rey I, II, III, and IV, which are currently under construction
• Once completed, the Rey portfolio is expected to produce approximately 916,000MWh of clean energy annually
• The clean energy generated will serve the needs of over 275,000 homes in the region
• The projects will displace around 184,000 tonnes of CO2 emissions
• The acquisition aligns with Recurrent Energy's goal to expand its assets in Spain and globally
• Recurrent Energy plans to start construction on over 1GW of solar projects in Spain in 2024.