Recurrent Energy Announces Commercial Operation of Two Solar PV Projects in California

The two solar pv projects 100 MWac/131 MWp Astoria and 75 MWac/100 MWp Astoria 2 is located in Kern County, California

Recurrent Energy, a wholly owned subsidiary of Canadian Solar has reached commercial operation of two solar PV projects in California. The two solar photovoltaic projects 100 MWac/131 MWp Astoria and 75 MWac/100 MWp Astoria 2 is located in Kern County, California.

“With the help of our trusted partners, the Astoria projects will power more than 40,000 homes with clean energy,” said Shawn Qu, chairman and chief executive officer of Canadian Solar. “These projects, which began operating in late 2016, are part of Recurrent Energy’s milestone 1.2 GW 2016 project portfolio.”

GE Energy Financial Services provided a tax equity investment for both solar pv projects. Financing for the Astoria project was announced in November 2015. A financing announcement for the Astoria 2 facility followed in January 2016. Both projects employ GE’s state-of-the-art solar inverter technology.

“It has been a pleasure to work with Recurrent Energy on the Astoria projects and see them through commercial operation. As we continue to invest over $1 billion annually in the U.S. renewable energy market, well-developed assets such as the Astoria projects are critical to our success,” said Kevin Walsh, managing director and head of Renewables at GE Energy Financial Services.

Pacific Gas and Electric Company will buy electricity and associated renewable energy credits (RECs) generated by the Astoria project under a long-term power purchase agreement (PPA). Electricity and associated RECs from the Astoria 2 project will be purchased by the Southern California Public Power Authority and four of its members (Cities of Azusa, Banning, Colton and Vernon).