07:53 AM EDT, 10/03/2024 (MT Newswires) -- Canadian Solar's ( CSIQ ) Recurrent Energy subsidiary said Thursday that BlackRock ( BLK ) has completed its $500 million investment in Recurrent, with the receipt of the second and final payment.

BlackRock's ( BLK ) $500 million investment represents 20% of the outstanding fully diluted shares of Recurrent on an as-converted basis, according to Recurrent. Canadian Solar ( CSIQ ) remains the majority shareholder of Recurrent, the company added.

The transaction, announced in January, was facilitated through a fund managed by BlackRock's ( BLK ) Climate Infrastructure business, Recurrent said.

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