BlackRock invests $500 million in Recurrent Energy towards clean energy transition 

Recurrent Energy, a subsidiary of Canadian Solar Inc., announced the initial closing and funding of an investment in its platform by BlackRock through a fund managed by its Climate Infrastructure Business. 

In a press release, Canadian Solar said, “The initial closing represents the majority of the planned capital infusion. Once the transaction is fully complete, BlackRock’s $500 million investment will represent 20% of the outstanding fully diluted shares of Recurrent Energy on an as-converted basis. Canadian Solar will continue to own the remaining majority shares of Recurrent Energy.”