Recurrent Energy Receives 490 Million Brazilian Reais Financing for Ciranda Cluster in Brazil
GUELPH, ON, Nov. 22, 2023 /PRNewswire/ -- Recurrent Energy , a global developer and owner of solar and energy storage assets, announced today that it has fully received 490 million Brazilian reais (approximately US$100 million) of non-recourse project financing for its 300 MW Ciranda Solar Power Cluster (Ciranda Cluster) in Brazil.
- GUELPH, ON, Nov. 22, 2023 /PRNewswire/ -- Recurrent Energy , a global developer and owner of solar and energy storage assets, announced today that it has fully received 490 million Brazilian reais (approximately US$100 million) of non-recourse project financing for its 300 MW Ciranda Solar Power Cluster (Ciranda Cluster) in Brazil.
- Completed in August 2023, Ciranda Cluster was developed by Recurrent Energy, who is now the long-term owner and operator of Ciranda Cluster.
- Ismael Guerrero, CEO of Recurrent Energy, said, "We are pleased to extend our long-standing partnership with BNDES and reinforce our presence in the Brazilian capital markets.
- Both Ciranda Phase I and Ciranda Phase II projects won in a private auction held by COPEL Energia, one of the top 10 energy trading companies in Brazil, with a 15-year, inflation-adjusted PPA.