09:35 AM EDT, 05/23/2024 (MT Newswires) -- Canadian Solar's ( CSIQ ) Recurrent Energy unit said Thursday that it has secured a revolving credit facility of up to 1.3 billion euros ($1.41 billion) for the construction of renewable energy projects in various European countries.

The agreement, which allows credit to be received in euros and British pounds, was signed by 10 banks and Recurrent Energy in Spain, the unit said.

The unit said that with the facility, it can continue the development and construction of solar and battery energy storage projects in Spain, Italy, the UK, the Netherlands, France and Germany.

The facility will be available for three years with optional extensions, Recurrent Energy said.

Price: 18.19, Change: +2.36, Percent Change: +14.91