Recurrent Energy, a subsidiary of Canadian Solar Inc.and a global leader in solar and energy storage development, ownership, and operation, has signed a 10-year Power Purchase Agreement (PPA) with a major U.S.-based technology company. Ismael Guerrero, CEO of Recurrent Energy, said, “We are very pleased to continue to support leading technology companies in their commitments to achieve net zero carbon emissions. The trust placed in us reflects Recurrent Energy’s proven expertise in executing large-scale projects for major global customers. This PPA demonstrates both companies’ dedication to combating climate change through cost-competitive renewable energy investments.”
Under the agreement, the technology company will source renewable energy from Recurrent Energy’s Tordesillas solar PV project, located in Valladolid, within the Castilla y León region of northwestern Spain. The project, with an installed capacity of 300 MWp, is slated to begin operations by 2026. Once operational, Recurrent Energy will retain ownership and manage the project’s operations. The Tordesillas project will bolster Spain’s leadership in renewable energy and contribute to its decarbonization goals. Once operational, the project is expected to generate approximately 620 GWh annually, enough to power 188,000 households while offsetting 161,000 tons of CO2 equivalent each year.
Recurrent Energy remains committed to growing its global portfolio of solar PV and energy storage projects. In Spain, the company is actively developing over 2 GW of solar projects and 60 MWh of battery energy storage capacity, further supporting the transition to clean energy.
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