Recurrent Energy remains open to all options as it seeks to deliver returns to its stakeholders, said sources familiar with the situation.

The company is exploring a sale of a portfolio of operational and under construction US assets, while it has also looked to sell select assets, bilaterally. This comes in parallel with efforts by Recurrent’s majority investor Canadian Solar to sell the global platform.

A news report circulated last month that Canadian Solar engaged Santander CIB and Wells Fargo to sell the global platform after a bid from Fortescue fell through.

Recurrent has had a track record of selling down part or all of its projects to institutional partners such as Axium Infrastructure Partners, Goldman Sachs Renewable Power, now MN8 Energy and more recently Hunt Energy Network.

Recurrent raised just over USD 1.2bn in project finance in 2025 to support two projects in Arizona: 600 MWh Desert Bloom Storage and 150 MW Papago Solar, one in Kentucky, 94 MW Blue Moon Solar and the 200 MWh Fort Duncan BESS project in Texas.

Additionally, Recurrent sold the now-operational Fort Duncan to Hunt Energy Network in a deal announced last month, while the other three projects were targeted for completion later this year.

In terms of operational projects, Recurrent has not sold the 127 MW Bayou Galion project in Louisiana and the 160 MW North Fork Solar project in Oklahoma.

Overall, Recurrent had 1.8 GW of solar and 2.4 GWh of storage in operation and/or under construction as of November 2025. Canadian Solar also indicated in its 3Q25 investor presentation that Recurrent expects to have safe harbored 3 GWp of solar PV and 7 GWh of BESS by summer 2026.

Recurrent closed a multi-currency credit facility of up to USD 415m in April 2025.

Recurrent and Santander declined to comment on the situation. Wells Fargo did not return calls seeking comment.

Europe

Recurrent continued to do asset recycling in 2025 and 2026 as it sold projects in the United Kingdom to the likes of Quinbrook and Downing, and traded a 200 MW BESS portfolio to ENGIE in July 2025.

Recurrent also has assets in Germany, Poland, Greece, Spain and France, as well as certain markets in Latin America and Asia.

On its 3Q25 earnings call held in November 2025, Canadian Solar said it would accelerate project sales in 2026, but still needed to get final signoff at its board meeting held this past February and expected to disclose more on its 4Q25 earnings call slated for March 19.

BlackRock, through a fund managed by its Climate Infrastructure business, closed a USD 500m investment in Recurrent in October 2024 and owns a 20% stake in the platform alongside Canadian Solar.