Canadian Solar's (CSIQ) Recurrent Energy unit said Tuesday it completed $825 million in financing for its Desert Bloom Storage and Papago Solar projects in Arizona.

The solar and energy storage projects company said the financing includes construction loans from Nord/LB, Mitsubishi UFJ Financial Group (MUFG), CoBank, and Siemens Financial Services, and tax equity from Wells Fargo (WFC).

Both projects, located in Maricopa County, are being developed under a partnership with Arizona Public Service and are expected to start operating in H1 2026, according to the company.

Recurrent said Desert Bloom Storage will have 600 megawatt hours of capacity, and Papago Solar will generate 150 megawatts of power.

Primoris Services is the engineering, procurement, and construction provider for Desert Bloom, while Blattner Energy is building Papago Solar, Recurrent said.

Shares of Canadian Solar were down 2.3% in recent Tuesday premarket activity.