Recurrent Energy, a subsidiary of Canadian Solar Inc. and a global developer, owner, and operator of solar and energy storage assets, has announced the signing of a Power Purchase Agreement (PPA) with Qualcomm Incorporated, a leading-edge AI technology provider innovating to deliver intelligent computing and connectivity solutions.
Qualcomm entered the PPA to source renewable energy from a solar photovoltaic (PV) project developed by Recurrent Energy in Spain. Recurrent Energy plans to retain ownership and operational responsibilities of the plant upon its completion.
The project is expected to deliver significant local benefits by fostering socio-economic development and reducing the region’s environmental footprint. In particular, it is projected to create more than 300 jobs during the construction phase and provide specialized job training to ensure stable, long-term employment opportunities for the local community.
Ismael Guerrero, CEO of Recurrent Energy, expressed enthusiasm about the partnership with Qualcomm through the PPA. He highlighted that the agreement reinforces Recurrent Energy’s dedication to developing large-scale renewable energy solutions in Spain while supporting Qualcomm’s efforts to achieve its ambitious decarbonization goals. Guerrero emphasized that the PPA exemplifies how the collaboration between technological innovation and clean energy can drive a more efficient future while promoting environmental and socio-economic progress.
This project will strengthen Spain’s leadership in renewable energy and support its decarbonization goals. Under this PPA, Recurrent Energy will supply 50,000 MWh annually—enough to power 15,000 households and prevent the release of 8,000 tonnes of CO₂ equivalent emissions each year.
The agreement was successfully facilitated by Trio (formerly known as Altenex Energy), a leading sustainability and energy advisory company, which provided expertise and guidance throughout the process.
