Recurrent Energy Provides Groundbreaking €1.3 Billion Multi-Currency Green Financing to Accelerate Europe’s Renewable Energy Portfolio

Recurrent Energy has secured a landmark multi-currency revolving credit facility worth up to €1.3 billion. This facility, in which ten banks participate, will finance the construction of renewable energy projects in several European countries. The agreement was signed by Recurrent Energy and participating financial institutions in Seville, Spain. This facility will enable Recurrent Energy to develop and build solar and battery storage projects in Spain, Italy, the UK, the Netherlands, France and Germany. Initially, it will support the construction of nearly 1 GW of photovoltaic capacity, most of which will go to Spain and the rest to the UK.

This eco-friendly facility will be available for three years with optional extensions. Initially estimated at EUR 674 million, there is a potential to increase it to approximately EUR 1.3 billion. The agreement covers financing for both commercial and contract projects and allows for obtaining a loan in both euro and British pound. This financing represents a significant milestone for Recurrent Energy, underlining its commitment to sustainable development and growth in the European market. Supported by its financial partners, Recurrent Energy continues to lead the energy transition with 26 GWp of solar and 56 GWh of battery projects worldwide.

Ismael Guerrero, CEO of Recurrent Energy, said: “This agreement reinforces Recurrent Energy’s growth strategy and our transformation into one of the world’s leading independent renewable energy producers and developers. We would like to thank all our financial partners for the support and trust they have placed in our company. Together we provide the world with clean, reliable and affordable energy, today and tomorrow.”

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