Canadian Solar subsidiary Recurrent Energy has secured finance for the 28MW Gaskell West 1 solar plant in southern California.
KeyBank has provided a construction loan and letter of credit facility for the project, with KeyBanc Capital Markets acting as lead arranger.
Construction of the project is underway, with commercial operation slated for spring 2018.
Gaskell West 1 will supply electricity to Southern California Edison under a long-term power purchase agreement.
Canadian Solar chairman and chief executive Shawn Qu said: “As we advance our solar project pipeline across the US, long-standing financial partners like KeyBanc Capital Markets are critical to our continued success.”
Meanwhile, RES has completed construction of the 3MW Penitente solar plant in Colorado.
RES developed, constructed and will operate and maintain the project, which is owned by AEP OnSite Partners.
The facility, which is located in Saguache County, supplies electricity to the San Luis Valley Rural Electric Cooperative.
RES Distributed president Tom Duckett said: “Penitente Solar is the latest example of RES building strong relationships with co-ops across the country to develop, construct and operate local renewable power for rural areas.”
Image: Pixabay
