Canadian Solar (CSIQ, Financial) announced that its subsidiary, Recurrent Energy, has entered into a 10-year power purchase agreement (PPA) with a major US tech company. The agreement will supply green energy from a 300 MW photovoltaic plant being developed in Valladolid, Spain. The project is expected to begin commercial operations in 2026, with Recurrent Energy overseeing its operations.
The Toredsillas project will contribute to Spain's renewable energy goals and is anticipated to generate approximately 620 GWh of clean electricity annually, enough to power over 188,000 homes and reduce carbon emissions by about 161,000 tons. Recurrent Energy plans to expand its global portfolio, with over 2 GW of solar projects and 60 MWh of storage projects in Spain.
