08:41 AM EDT, 07/10/2024 (MT Newswires) -- Canadian Solar's ( CSIQ ) Recurrent Energy subsidiary said Wednesday it has signed a 10-year power purchase agreement with GKN Automotive, a drive systems provider.

Financial terms of the agreement were not disclosed.

Under the deal, GKN Automotive will source renewable energy from Recurrent Energy's Rey I Project in Spain.

The agreement will also allow for the annual production of about 200-gigawatt-hours of renewable electricity.

Rey I, which is expected to be fully operational by H1 2026, will be owned and operated by Recurrent Energy, according to the company.

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