Canadian Solar’s Recurrent Energy Secures Tax Credit Deal for North Fork Solar Project

Credit: Recurrent Energy

, a subsidiary of Canadian Inc, has finalized a USD 103 million (EUR 96.2m) tax credit facilitation agreement with Bank of America for its recently operational 160-MW North Fork Solar Project near City.

The agreement, announced today, follows a ribbon-cutting ceremony held jointly with the Oklahoma Municipal Power Authority (OMPA) to mark the commencement of operations at the solar power plant.

“This transaction marks our first production tax credit (PTC) deal and our inaugural tax credit transfer, enabling us to access more efficiently,” explained Recurrent Energy in their statement.

Under the terms, OMPA will purchase all generated by the facility over a 15-year period, reinforcing the project's long-term sustainability. Development of the North Fork Solar Project commenced in 2018, with expectations to contribute approximately USD 26 million to community services throughout its operational lifespan.

Add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use