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Recurrent Energy inks build-transfer deal for 100-MW solar project

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Recurrent Energy inks build-transfer deal for 100-MW solar project


November 9 (Solar) – Recurrent Energy, a wholly-owned unit of Canadian Solar Inc (NASDAQ:CSIQ), has sealed a build-transfer agreement with utility Entergy Mississippi for a 100-MW solar project in Mississippi.

The agreement covers the Sunflower solar project, which Recurrent Energy is developing in Mississippi’s Sunflower County. Under its terms, the Canadian Solar subsidiary will build the photovoltaic (PV) park and will transfer its ownership to Entergy following commissioning in the middle of 2022. The base purchase price of the contract stands at USD 138.4 million (EUR 121.6m), Recurrent Energy said on Thursday, adding that this is one of the first such agreements being signed in the US.

Planned to use 350,000 PV modules, the plant is expected to generate enough electricity to supply over 16,000 households. It will be the largest utility-owned solar farm in Mississippi and will connect to Entergy's transmission grid in Ruleville.

The project is subject to approval by the state’s Public Service Commission.

(USD 1.0 = EUR 0.879)


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