Recurrent Energy has sold its 49% stake in two California solar power plants, the 258 MW-DC Tranquillity and the 272 MW-DC Garland Solar plants, to one of Denmark’s largest pension service providers as its first solar investment.
Prudential is providing $107 million in debt for the project in Cabarrus County which will be one of the largest in the state when complete.
Recurrent Energy’s ‘Crimson’ project is proposed for siting on public land, and is moving forward in its environmental review.
The plant is one of the largest solar projects east of the Mississippi, adding further to the installed base of the No. 2 state for solar.
Recurrent Energy, a wholly owned subsidiary of heavyweight module manufacturer Canadian Solar has signed power purchase agreement for a 100 MW PV project to be located in Kings County, Central California.
The California utility is working with seven developers to build the plants throughout its service area to fuel its pooled-resource solar program.
Just four years after becoming a solar panel producer, the Canadian manufacturing conglomerate pulls out of the market, citing an inability to make a profit at current market prices.
The Tranquility 8 Verde project in Central California will provide electricity to customers of Sacramento’s public utility who participate in its Solar Shares program.
The two projects, named Astoria and Astoria 2, could power 40,000 homes with clean energy from the 175 MW they produce.
Under the terms of the agreement, expected to close in the fourth quarter, Recurrent Energy will lease the land from Landmark for four utility-scale solar PV projects.
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