Canadian Solar (CSIQ) has released an update.
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Recurrent Energy, a subsidiary of Canadian Solar, has secured an initial investment from BlackRock through one of its Climate Infrastructure funds, paving the way for Recurrent Energy to transition towards being a long-term owner and operator of solar and energy storage assets in the U.S. and Europe. The deal, which saw BlackRock investing $500 million for a 20% stake, aims to leverage both companies’ expertise to foster growth in the renewable energy sector. This financial backing is set to bolster Recurrent Energy’s global project development pipeline, which includes 26 GW of solar and 56 GWh of storage.
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