The installation produces renewable energy for approximately 45,000 households in California’s Central Valley. Image: Recurrent Energy
Recurrent Energy has sold its equity stake in the 134MW Mustang solar project to the Renewable Power Group of Goldman Sachs Asset Management. This agreement wraps up Recurrent Energy's sale of equity stakes in the 973MW portfolio of California solar projects that came online in 2016.
CCAs Sonoma Clean Power and MCE (formerly Marin Clean Energy) will purchase energy from the Mustang project under long-term power purchase agreements. Back in October 2015, Mustang became the first utility-scale solar project fully contracted with CCAs to obtain non-recourse financing. The installation produces renewable energy for approximately 45,000 households in California’s Central Valley.
Dr. Shawn Qu, chairman and chief executive of Canadian Solar, said: "We are thrilled to partner with Goldman Sachs on the sale of the Mustang solar project, and this transaction again demonstrates Canadian Solar's ability to attract top tier investors.”
Now in its sixth successful year, Solar & Storage Finance USA is the only event which looks at raising capital for solar, storage and collocated solar and storage projects in the USA. The conference will help delegates understand how providers are evolving propositions for storage and how they can access capital for standalone solar or storage, and co-located projects. Meet debt providers, funders, utilities, corporate off takers and blue chip energy firms with capital to invest and developers with credible pipelines.