Recurrent Energy, a subsidiary of Canadian Solar, has secured $260 million in project financing for its Blue Moon Solar project in Harrison County, Kentucky. U.S. Bancorp Impact Finance provided both the tax equity and construction financing.
The 94 MW facility is currently under construction and is expected to begin commercial operations in 2026. Recurrent Energy will own and operate the project, while Constellation will purchase the generated power and renewable energy certificates.
This marks Recurrent Energy’s first project in Kentucky, anticipated to create hundreds of construction jobs and generate significant tax revenue for the local community. The company has also contributed to local organizations, such as the Harrison Memorial Hospital Foundation, through its Community CaRE Program.
KEY QUOTES:
“Harrison County is open to investment, and we are pleased to work with Recurrent Energy on their newest energy facility. Blue Moon Solar will provide a major source of new tax revenue to our county.”
Jason Marshall, Harrison County Judge/Executive
“We believe everyone has a role to play in creating a sustainable future, and financing a project like Blue Moon is one way we can be responsible stewards of the environment. Our team’s ability to offer both equity financing and project finance debt speaks to U.S. Bank’s ability to provide custom financing solutions for our clients. Blue Moon Solar is one of several projects we’ve financed for Recurrent Energy, and we’re proud to support its work to expand sources of clean energy, strengthen the energy grid, and drive local job creation.”
Darren Van’t Hof, Managing Director of Environment Finance for U.S. Bancorp Impact Finance
“We are pleased to invest in Harrison County, Kentucky. Blue Moon Solar will generate affordable, locally produced energy that will support Kentucky’s economic growth. We are excited to complete the financing for Blue Moon Solar and grow our investments in Kentucky, thanks to U.S. Bank and Constellation for supporting our energy projects.”
Ismael Guerrero, CEO of Recurrent Energy
