Recurrent Energy, a subsidiary of Canadian Solar, has announced the acquisition of a photovoltaic (PV) portfolio in southern Spain with a capacity of over 420MWp. This acquisition is part of Recurrent Energy's broader strategy to expand its assets in Spain and globally.
The portfolio, located in Carmona, Seville (Andalusia), consists of four projects: Rey I, II, III, and IV. These projects are currently under construction and will utilize Canadian Solar's TopBiHiKu7 N-type bifacial TOPCon technology modules. Once completed, the Rey portfolio is expected to produce approximately 916,000MWh of clean energy annually, serving the needs of over 275,000 homes and displacing around 184,000 tonnes of CO2 emissions.
Ismael Guerrero, CEO of Recurrent Energy, expressed the company's commitment to growing its assets globally. Guerrero stated, “While our goal is to strategically grow our development pipeline and assets under management through greenfield development, we continue to look for high-value acquisition opportunities. We are delighted to add the Rey projects to our growing portfolio.”
