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)
Copyright (c) 2025 Dow Jones & Company, Inc.
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