Canadian Solar Secures $183 Mln for Storage Project in Texas

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Canadian Solar Secures $183 Mln for Storage Project in Texas

Dow Jones03-18

By Adriano Marchese

Canadian Solar said it has secured $183 million in financing for its Texas merchant storage project.

The Canadian solar energy company said on Tuesday that the project financing includes a construction and term loan, a tax equity bridge loan, and a letter of credit facility worth a total of $112 million from German bank Nord/LB, as well as $71 million tax equity partnership with Greenprint Capital.

The new money, which was raised by Canadian Solar's subsidiary, Recurrent Energy, will be used to fund the Ford Duncan storage project, a 200 megawatt storage project in Maverick County currently under construction.

The project is expected to be commercially available this summer.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

March 18, 2025 07:40 ET (11:40 GMT)

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