Published

2 years ago

February 29, 2024

Alice Rush

Canadian Solar subsidiary Recurrent Energy has closed non-recourse project financing for its 119 MW Horus Solar project in Mexico’s Aguascalientes region, funded by Korea Eximbank and KEB Hana Bank.

The project reached Commercial Operation Date last March and has been operating since. It was awarded a PPA during Mexico’s third renewables auction through which it will sell 75% of electricity generated for 15 years and Clean Energy Certificates for 20 years. The remaining 25% will be sold on the spot market.

“The Horus project is a great example of the high value projects that we aim to develop and finance across the world,” says Ismael Guerrero, CEO of Recurrent Energy. “Thank you to our partners at KEXIM and KEB Hana Bank, together with the project sponsors KEPCO and Sprott, for helping enable this solar project that will bring more emissions-free power to Mexico. We remain committed to the Mexican market that boasts some of the best fundamentals worldwide for solar development.”

Recurrent owns 49% of the project, with Korea Electric Power Corporation owning 15% and Sprott owning 36%.

The post Recurrent Energy Closes Financing for 119 MW Mexico Project appeared first on Solar Industry.

Recurrent Energy Closes Financing for 119 MW Mexico Project

Renewable Energy

Renewable Energy Concepts Can’t Violate the Laws of Physics

Published

12 hours ago

February 28, 2026

Alice Rush

In the early days of 2GreenEnergy, my people and I were vigorously engaged in finding solid ideas in cleantech that needed funding in order to move forward.

I vividly remember a conversation with a guy in Maryland who was trying to explain the (ostensible) breakthrough that he and his team had made in hydrokinetics. When I was having trouble visualizing what we was talking about, he asked me to “think of it as a river in a box.”

“Oh!” I exclaimed. “You mean you take a box full of standing water, add energy to it get it moving, then extract that energy, leaving you with more energy that you added to it.”

“Exactly.”

I politely explained that the laws of physics, specifically the first and second laws of thermodynamics, make this impossible.

He wasn’t through, however, and insisted that, in his office, his people had constructed a “working model.”

Here’s where my tone descended into something less than 100% polite. I told him that he may think he has a working model, but he’s wrong; if he believes this, he’s ignorant; if he doesn’t, but is conducting this conversation anyway, he’s a fraud.

“But don’t you want to come see it?” he implored.

“No. Not only would not fly across the country to see whatever it is you claim to have built, I wouldn’t walk across the street to a “working model” of something that is theoretically impossible.”

—

I tell this story because the claim made at the upper left is essentially identical. You’re pumping water up out of a stream, and then claiming to extract more energy when the water flows back into the stream.

Of course, social media today is rife with complete crap like this. We’ve devolved to a point where defrauding money out of idiots is rapidly replacing baseball as our national pastime.