Recurrent Energy Achieves Financial Close for 171 MW Solar Project in Australia

Recurrent Energy, a subsidiary of Canadian Solar Inc., has successfully reached financial close for its Carwarp Energy Park project in Australia. The funding for the project will be provided by Australia and New Zealand Banking Group Limited, Westpac Banking Corporation, and Société Générale, Sydney Branch.

The Carwarp Energy Park, located in North West Victoria near the town of Carwarp, will feature a 171 MW solar farm and a future Stage 2 hybrid 120 MW battery energy storage system (BESS). The project will be integrated into the National Electricity Market through the 220 kV Victorian network and will contribute significantly to helping Victoria meet its renewable energy targets. Once completed, the solar farm will utilize 243,000 high-efficiency Canadian Solar modules, generating an estimated 405 GWh annually, enough to power around 88,000 homes.

The project is supported by a long-term power purchase agreement (PPA) with a multinational corporate offtaker and is scheduled to begin commercial operations in 2026.

Ismael Guerrero, CEO of Recurrent Energy, expressed excitement over the financial close and the company’s continued commitment to advancing renewable energy globally. He highlighted their focus on further expansion within the APAC region and expressed gratitude to their partners for their ongoing support.