Canadian Solar subsidiary Recurrent Energy has secured a $500 million preferred equity investment commitment, convertible into common equity, from BlackRock through a fund managed by its Climate Infrastructure business.
The investment will represent 20% of the outstanding fully diluted shares of Recurrent Energy on an as-converted basis. Canadian Solar will continue to own the remaining majority shares of Recurrent Energy after the closing of the investment.
The investment will provide Recurrent Energy with additional capital to grow its development pipeline while executing its strategy to transition from a pure developer to a developer plus long-term owner and operator in select markets.
“We are delighted to have the support of BlackRock, one of the largest and most sophisticated renewable energy investors in the world, as we scale Recurrent Energy in response to massive global demand for renewable energy and energy storage solutions,” says Recurrent Energy CEO Ismael Guerrero. “This investment will support our growth and continued ambition to make a difference by leading the renewable energy transition across the world.”
As of September, Recurrent Energy had a global development pipeline of 26 GW in solar and 55 GWh in storage.
BofA Securities, Inc. and Banco Santander, S.A. acted as financial advisors to Canadian Solar.
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Recurrent Energy Announces $500 Million BlackRock Capital Commitment
Basing a claim on a single incident, e.g., the murder of Charlie Kirk, has no real validity.
So, here’s was AI says on the matter:
Violent crime, particularly homicide and gun violence, is significantly higher in the United States compared to Europe.
The U.S. homicide rate fluctuates between 5.5 and 6.5 per 100,000 residents, whereas most Western European countries see rates well below 2.0 per 100,000. A resident of the U.S. is generally 5 – 6 times more likely to be a victim of a homicide than someone living in Western Europe.
The meme here speaks volumes to life in the United States and free market capitalism as a whole.
I happened to have met the guy who, in the 1990s, tried to build railways that would connect Dallas, Houston, Austin, and San Antonio. One day he got a phone call from Herb Kelleher, co-founder and former CEO of Southwest Airlines, who told him, “The fare between any of the major cities in Texas is $80. The day you drive your first spike in the ground, I’m lowering it to $8.”
American businesspeople are no more interested in the wellbeing of our people than they have in being diagnosed with cancer.
If you’re wondering why there is so much pushback against renewable energy and other elements of climate change mitigation, you really don’t to look much further.
Hmm. He’s the governor of the most populous state in the country, whose revenues, if it were a country, would make it the fourth largest economy on Earth. His state ranks in the top five in terms of colleges and universities. We’re wealthy, well-educated, and extremely productive.
It’s true that he’s not a Trump supporter, but California (and the rest of the world) generally regards the current U.S. president as a criminal sociopath.
Yes, that infuriates folks who are poor, ignorant, racist, and disease-ridden, but generally speaking, it doesn’t bother Californians.
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