Recurrent Energy Secures $160 Million for Louisiana Solar Project, Microsoft to Purchase 100% of Energy Produced

Recurrent Energy, a subsidiary of Canadian Solar, has secured $160 million in project financing for its Bayou Galion Solar project in Louisiana. The project, which is currently under construction and expected to be operational by fall 2024, is expected to significantly increase the state’s solar capacity to over 3,000 MW within five years. Microsoft Corporation has committed to purchasing 100% of the energy and renewable energy credits produced by the project to support its carbon-negative goal of being carbon negative by 2030. The financing was coordinated by Mitsubishi UFJ Financial Group. Louisiana’s goal aligns with Microsoft’s aim of becoming carbon negative.