Recurrent Energy, a subsidiary of Canadian Solar Inc. (NASDAQ: CSIQ), has secured $260 million in project financing and tax equity for its first solar project in Kentucky, the company said.
The 94-megawatt Blue Moon Solar facility is scheduled to begin operations in 2026.
U.S. Bancorp Impact Finance is providing both construction financing and tax equity for Blue Moon Solar.
Under a power purchase agreement, Constellation will buy the power and renewable energy certificates generated by the project, which is currently under construction in Harrison County.
“We are pleased to invest in Harrison County. Blue Moon Solar will generate affordable, locally produced energy that will support Kentucky’s economic growth,” said Ismael Guerrero, CEO of Recurrent Energy.
Harrison County Judge/Executive Jason Marshall welcomed the investment, citing expected increases in local tax revenue. The project is also set to create hundreds of construction jobs.
“This speaks to U.S. Bank’s ability to provide custom financing solutions,” said Darren Van’t Hof, Managing Director of Environment Finance at U.S. Bancorp Impact Finance. “Blue Moon Solar is one of several projects we’ve financed for Recurrent Energy.”
Through its Community CaRE Program, Recurrent Energy has contributed to local organizations, including the Harrison Memorial Hospital Foundation.
Recurrent Energy has developed around 12 GWp of solar projects and 6 GWh of energy storage projects globally. As of March 2025, its pipeline includes approximately 25 GWp of solar and 69 GWh of energy storage capacity, excluding China.
Canadian Solar, its parent company, has delivered nearly 157 GW of solar photovoltaic modules worldwide since 2001 and holds a diversified development pipeline across six continents.
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