Canadian Solar subsidiary Recurrent Energy has secured $106.7m in debt financing for a 102 MW solar facility in North Carolina. Prudential Capital Group is providing the loan, while in a separate agreement, US Bancorp Community Development Corporation is set to make a tax equity investment. The project will be built by SunPower and SolarCity of San Diego, with construction expected to begin this year.
Canadian Solar subsidiary Recurrent Energy has secured $106.7m in debt financing for a 102 MW solar facility in North Carolina. Prudential Capital Group is providing the loan, while in a separate agreement, US Bancorp Community Development Corporation is set to make a tax equity investment. When fully operational in Q3 2018, the North Carolina scheme will be one of the US state's largest solar arrays, providing energy to around 12,000 homes via a 10-year power purchase agreement with Duke Energy Carolinas.