Recurrent Energy, LLC broke ground last week on the 100 MW Sunflower Solar Project, a facility to be built in Sunflower County, Miss., to supply Entergy Mississippi with clean power.
“With the ongoing financing and construction challenges due to the pandemic, I am particularly proud that our team secured the necessary financing for construction and has executed on the ground to begin building what is expected to be the largest solar project in the Magnolia State,” Dr. Shawn Qu, chairman and CEO of Canadian Solar Inc., which owns Recurrent Energy, said. “This demonstrates both the dedication and capabilities of our Recurrent Energy team and the strength of our trusted financing partners, Nord/LB and Rabobank.”
The project benefits from closed debt financing of $146 million, provided by Norddeutsche Landesbank (Nord/LB) and Rabobank. It is also one of the first utility-scale solar projects to be constructed as part of a U.S. Build Transfer Agreement, which will allow Entergy Mississippi to own the project once it achieves commercial operation early next year.
The facility will make use of Canadian Solar high-efficiency modules — solar panels capable of high wattages. These will help Sunflower power more than 16,000 homes and displace approximately 170,000 metric tons of CO2 per year.
“The Sunflower Solar project is another important milestone in Entergy Corporation’s continued transformation of its power generation portfolio, meeting customers’ needs with clean, efficient sources of electricity while maintaining some of the lowest retail rates in the country,” Haley Fisackerly, Entergy Mississippi president and CEO, said. “Entergy’s investments in its generation portfolio transformation have resulted in substantial reductions in the company’s greenhouse gas emissions and provided significant savings to customers from lower fuel costs.”
The BTA between Entergy Mississippi and Recurrent Energy was approved by the Mississippi Public Service Commission last year.
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