08:54 AM EDT, 08/13/2026 (MT Newswires) -- Canadian Solar ( CSIQ ) unit Recurrent Energy has closed $695 million in project financing and tax equity for its Cobalt Solar facility, the company said Thursday.

The 330 megawatt project, in California's Riverside county, is currently under construction and expected to begin operating commercially before the end of next year, the company said.

The financing consists of $484 million in debt and includes construction and term loans, a tax equity bridge loan, and a letter of credit facility, led by Mitsubishi UFJ Financial ( MUFG ) and Nord/LB, the company said.

In parallel, Recurrent has secured a $211 million tax equity investment from Wells Fargo ( WFC ) , the company said.