Recurrent Energy is a subsidiary of Canadian Solar Inc. that develops, owns and operates utility-scale solar and energy storage projects. The company provides project development, ownership and operations platforms supported by an in-house team of energy experts and is led by CEO Ismael Guerrero. It secured a $500M equity investment commitment, convertible into common equity, from BlackRock through a fund managed by its Climate Infrastructure business. Recurrent plans to use the funds to grow its development pipeline and transition from a pure developer to a developer plus long-term owner and operator in select markets including the U.S. and Europe. The transaction perimeter covers the U.S., Canada, Spain, Italy, the U.K., France, the Netherlands, Germany, South Africa, Brazil, Chile, Colombia, Australia, South Korea and Taiwan, and excludes Canadian Solar's project development business in Japan and China and certain assets in Latin America and Taiwan. The firm expects to have 4 GW of solar and 2 GWh of storage in operation in the U.S. and Europe by 2026. Recurrent Energy is a San Francisco-based firm that structures the financing and operation of solar installations. The company raised $10 million in its first round of financing. Mohr Davidow Ventures invested $10 million in the round. JEM Partners also participated in the financing. The raise and participants were reported by VentureWire.

Total raised

$510M

Funding rounds

2

Latest round

Equity

Latest activity

Jan 2024