Recurrent Energy, a wholly-owned subsidiary of Canadian Solar for global project development and power services, has received financing worth $82.06 million for its 160 MW (120 MWac) North Fork Solar project in Oklahoma City.
Under a 15-year agreement, Oklahoma Municipal Power Authority (OMPA) will purchase 100% of the energy produced by the solar project, scheduled to be operational in 2024.
Blattner Energy has been selected as the engineering, procurement, and construction partner for the project, which will produce enough electricity to power 35,000 homes, once operational. The project will be owned and operated through Recurrent Energy’s Power Services business once completed.
NordLB acted as Coordinating Lead Arranger and Joint Lead Arranger, while Rabobank acted as Joint Lead Arranger.
“North Fork Solar takes no exception and further diversifies our portfolio within the Southwest Power Pool market,” said Sondra Martinez, Managing Director, Nord/LB. “We look forward to continuing our long-standing partnership with Recurrent Energy especially as they execute on their ambitious energy transition pipeline.”
