Recurrent Energy, a subsidiary of Canadian Solar Inc and a prominent developer and owner of solar and energy storage assets globally, has announced the acquisition of a solar PV portfolio in southern Spain, boasting a capacity exceeding 420 MWp. With ongoing projects in Spain and plans to commence construction on over 1 GW of solar projects in 2024, Recurrent Energy is making significant strides in the region.
Situated in Carmona, a municipality in Seville (Andalusia), the recently acquired portfolio comprises four projects—Rey I, II, III, and IV—totaling more than 420 MWp. These projects, currently undergoing construction, will feature Canadian Solar’s advanced TopBiHiKu7 N-type bifacial TOPCon (Tunnel Oxide Passivated Contact) technology modules.
Upon completion, Project Rey will not only deliver clean, renewable energy but also contribute to the economic and social development of the local community, generating employment opportunities and fostering regional economic growth.
The Rey portfolio is projected to yield approximately 916,000 MWh of clean energy annually, catering to the energy needs of over 275,000 households in the region while mitigating approximately 184,000 tons of CO2 emissions.
Ismael Guerrero, CEO of Recurrent Energy, expressed enthusiasm about the acquisition, emphasizing the company’s commitment to expanding its assets both in Spain and globally. He highlighted Recurrent Energy’s strategic focus on growing its development pipeline and assets through greenfield development while actively seeking high-value acquisition opportunities. Guerrero expressed delight in adding the Rey projects to their growing portfolio.
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