Recurrent Energy, a solar project developer and a wholly owned subsidiary of Canadian Solar secured a multi-currency revolving credit facility valued at up to €1.3 billion (~$1.4 billion) with ten banks. Recurrent Energy and the participating financial institutions signed the agreement in Seville, Spain. The company will use the funding to develop solar and energy storage projects in European countries including Spain, Italy, the United Kingdom, the Netherlands, France, and Germany.