Project Finance Brief: Recurrent Energy Secures $112 Million for Solar Project in Oklahoma
SunVest Solar secures $60 million construction loan facility
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Recurrent Energy, a wholly-owned subsidiary of Canadian Solar, a vertically integrated silicon ingot, wafers, and photovoltaic cells and modules manufacturer, has secured $112 million project financing for its 160 MW (120 MWac) North Fork Solar project in Oklahoma City. NordLB acted as Coordinating Lead Arranger and Joint Lead Arranger. Rabobank acted as Joint Lead Arranger. The project is expected to be operational in 2024. Oklahoma Municipal Power Authority will purchase 100% of the energy produced by North Fork Solar under a 15-year agreement.
