Canadian Solar (CSIQ) has released an update.
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Recurrent Energy, a Canadian Solar subsidiary, has achieved a major milestone by securing $513 million in financing for the largest energy storage project in Arizona, set to power about 244,000 homes for four hours daily. The Papago Storage project, which begins construction in Q3 2024 and is expected to be operational by Q2 2025, will create 200 jobs and solidify Arizona’s position in the energy storage market. This financing deal, coordinated by MUFG and Nord/LB, highlights the growing investment in renewable energy infrastructure.
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