KITCHENER, ON, April 21, 2025 /PRNewswire/ -- Recurrent Energy, a subsidiary of Canadian Solar Inc. ("Canadian Solar") (NASDAQ: CSIQ), and a global developer, owner, and operator of solar and energy storage assets, held a tour and ribbon cutting ceremony at Bayou Galion Solar, a 127 MWdc solar project located in Northeast Louisiana. The project commenced operations in November 2024.
Solar energy investments in Louisiana are growing, driven by increasing demand for electricity from manufacturing and data centers. By the end of 2024, cumulative solar investment in Louisiana reached more than $2 billion[1].
To celebrate the project's commercial operation, Recurrent Energy welcomed local leaders to the site in Morehouse Parish for a guided tour and ribbon cutting ceremony. Bayou Galion Solar generates enough electricity to power the equivalent of approximately 20,500 homes annually while providing a substantial source of new tax revenue for the local community. In connection with the event, Recurrent Energy is also making a donation to the Cotton Country Players, a local theatre group, in support of the nearby historic Rose Theatre.
Dorothy Ford, Executive Director of the Bastrop-Morehouse Chamber of Commerce, said, "Solar energy creates a positive impact on its community. From creating jobs to generating local revenue, we at the Bastrop-Morehouse Chamber of Commerce recognize the importance of what Bayou Galion Solar is contributing to our economic growth."
Kay King, CEO of Morehouse Economic Development Corporation, added, "Congratulations to Recurrent Energy on the completion of the Bayou Galion Project. Solar development in our parish improves our tax base, adds income to landowners, and diversifies our area's electrical power sources. Morehouse Parish supports this development, which is building a foundation for a strong electrical grid system that will power future growth here and across our region."
Jeffrey Clark, President of Advanced Power Alliance, said, "Bayou Galion is a state-of-the-art energy investment that will help provide Louisiana with affordable power to benefit every consumer in the state. Morehouse Parish has a long and storied history in energy, and it's a real thrill and a tremendous honor to celebrate with neighbors and community leaders as this parish steps boldly into a new and expanded energy economy. With tax revenue for local schools and governments, and clean affordable power for consumers, Bayou Galion is a winner for Louisianans near and far."
Ismael Guerrero, CEO of Recurrent Energy, emphasized, "The successful completion of Bayou Galion Solar marks a significant milestone for Recurrent Energy—our first project in Louisiana. This $160 million investment not only brings clean, reliable power to the region, but also drives local economic development, creates jobs, and strengthens the state's energy infrastructure. We are honored by the trust placed in us by Morehouse Parish. Louisiana has long been an energy leader. We look forward to deepening our partnerships as we develop and operate projects across the state."
Recurrent Energy previously announced that Mitsubishi UFJ Financial Group, Inc. (MUFG) acted as Coordinating Lead Arranger for the project financing totaling $160 million. Primoris Renewables Energy, Inc. completed construction of Bayou Galion Solar with the support of local vendors.
Recurrent Energy, a subsidiary of Canadian Solar Inc., is one of the world's largest and most geographically diversified utility-scale solar and energy storage project development, ownership, and operations platforms. With an industry-leading team of in-house energy experts, Recurrent Energy serves as Canadian Solar's global development and power services business. To date, Recurrent Energy has successfully developed, built, and connected 11 GWp of solar projects and more than 3 GWh of energy storage projects across six continents. As of December 2024, its project development pipeline includes over 25 GWp of solar and 75 GWh of energy storage capacity.
About Canadian Solar Inc.
Canadian Solar is one of the world's largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 24 years, Canadian Solar has successfully delivered nearly 150 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 10 GWh of battery energy storage solutions to global markets as of December 31, 2024, boasting a US$3.2 billion contracted backlog as of December 31, 2024. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 11.5 GWp of solar power projects and 4.5 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 25 GWp of solar and 75 GWh of battery energy storage capacity in various stages of development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.
Canadian Solar Inc. Investor Relations Contact Wina Huang Investor Relations Canadian Solar Inc. investor@canadiansolar.com
