As a global development and services business, Recurrent Energy is one of the world's largest and most geographically diversified utility-scale solar and energy storage project development platforms, with a strong track record of originating, developing, financing, and building nearly 9 GWp of solar and 3 GWh of battery storage power plants across six continents.
Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announces the rebranding of its wholly owned Global Energy subsidiary as Recurrent Energy. Recurrent Energy, previously the Company's North American utility-scale solar and energy storage project developer, will now encompass all its global development and services businesses.
As a global development and services business, Recurrent Energy is one of the world's largest and most geographically diversified utility-scale solar and energy storage project development platforms, with a strong track record of originating, developing, financing, and building nearly 9 GWp of solar and 3 GWh of battery storage power plants across six continents. Recurrent Energy has established a leadership position in both solar and battery storage project development, with a total pipeline of 25 GWp in solar and 47 GWh in battery storage, of which 14 GW and 12 GWh respectively already have interconnections (as of January 31, 2023). In addition, Recurrent Energy's services business had 6 GW of projects under operations and maintenance contracts, either operational or contracted projects.
Dr. Shawn Qu, Chairman and CEO, Canadian Solar, commented, "Recurrent Energy has a strong brand and track record in clean energy project development and execution, having brought online some of the world's first and largest solar, solar plus storage and standalone energy storage projects. As Canadian Solar continues to make a difference by supporting the global transition towards a more reliable, lower-carbon grid, we are pleased to streamline our development and operations and maintenance services under the Recurrent Energy umbrella. Recurrent Energy is now unified in its global mission and growth."
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 22 years, Canadian Solar has successfully delivered around 88 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built and connected around 8.8 GWp in over 20 countries across the world. Currently, the Company has approximately 574 MWp of projects in operation, 6.7 GWp of projects under construction or in backlog (late-stage), and an additional 18 GWp of projects in advanced and early-stage pipeline. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.