Recurrent Energy Secures Landmark €1.3 Billion Multi-Currency Green Financing to Accelerate European Renewable Energy Portfolio

Recurrent Energy secured a landmark multi-currency revolving credit facility worth up to €1.3 billion. This facility, involving ten banks, will fund the construction of renewable energy projects across several European countries. The agreement was signed by Recurrent Energy and the participating financial institutions in Seville, Spain.This facility will enable Recurrent Energy to develop and construct solar and battery energy storage projects in Spain, Italy, the United Kingdom, the Netherlands, France, and Germany. Initially, it will support the construction of nearly 1 GW of solar capacity, with the majority allocated to Spain and the rest to the United Kingdom.

This green facility will be available for three years with optional extensions. Initially sized at €674 million, it has the potential to be upsized to approximately €1.3 billion. The agreement covers financing for both full merchant and contracted projects and allows for credit to be received in both euros and British pounds. This financing marks a significant milestone for Recurrent Energy, highlighting its commitment to sustainable development and growth in the European market. Supported by its financial partners, Recurrent Energy continues to lead the energy transition, with a project development pipeline of 26 GWp of solar and 56 GWh of battery energy storage worldwide.

Ismael Guerrero, CEO of Recurrent Energy, said, “This agreement solidifies Recurrent Energy’s growth strategy and our transformation into one of the world’s leading independent renewable energy producers and developers. We thank all our financial partners for their support and trust in our company. Together, we are delivering clean, reliable, and affordable power to the world, today and tomorrow.”