Project Finance Brief: Recurrent Energy Sells 328 MW of Solar Projects in Texas

EDP Renewables signed an agreement with Onex Renewables to sell a 100% equity stake in a 221 MW wind portfolio in Portugal

July 26, 2021

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Canadian Solar announced its wholly-owned subsidiary, Recurrent Energy, completed the sale of the Maplewood 1 and Maplewood 2 solar projects to a U.S. annuity and life insurance company. Both projects are located in Pecos County, Texas, near the towns of Fort Stockton and McCamey, and have a combined capacity of 328 MW (250 MW (AC)). Both the projects are currently under construction and are expected to reach commercial operation before the end of Q3 2021. The Maplewood projects’ off-takers are Anheuser-Busch and Energy Transfer Partners. Anheuser-Busch will purchase the 222 MW (AC) from the Maplewood 1 project under a 15-year power purchase agreement (PPA), Maplewood 2 will deliver 28 MW (AC) of clean power to Energy Transfer Partners under a 15-year PPA.

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