Recurrent scores $250m for 200MW Ontario PV portfolio

Solar developer Recurrent Energy, a unit of Sharp, has secured a $250m, four-year credit facility from Mizuho Corporate Bank to build 20 PV projects in Ontario, Canada, under the province's feed-in tariff.

The 200MW portfolio represents one of the largest non-recourse solar financing deals in North America, San Francisco-based Recurrent says.

Recurrent chief executive Arno Harris says, "This transaction provides yet more evidence that solar is a mainstream energy source attracting significant investment from established financial partners. This is what solar looks like at scale.”

Japanese bank Mizuho has previously financed other significant solar projects, including a €300m deal for an Acciona Termosolar in Spain and a 38MW project in Thailand. But this appears to be the bank's first major deal…

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