Canadian Solar Secures Financing for Blue Moon Solar Project with $260M Financing Package.

Canadian Solar's subsidiary, Recurrent Energy, secured a $260 million financing package for the Blue Moon Solar project in Kentucky. The project, expected to be operational in 2026, will generate 94 MW of power and sell it through a power purchase agreement with Constellation. Canadian Solar's average target price is $12.78 with a high estimate of $23.00 and a low estimate of $7.28, indicating a 2.37% upside from the current price. The company's estimated GF Value is $22.12, suggesting a 77.24% upside.

Canadian Solar Inc. (NASDAQ: CSIQ), a leading global solar technology and renewable energy company, has announced that its subsidiary, Recurrent Energy, has successfully secured a $260 million financing package for the Blue Moon Solar project in Harrison County, Kentucky. The project, set to commence operations in 2026, will generate 94 megawatts (MW) of solar power.

The financing package, provided by U.S. Bancorp Impact Finance, includes both tax equity and construction financing. This marks a significant milestone for Recurrent Energy as it expands its footprint into Kentucky with its first solar project in the state. The project is expected to create hundreds of construction jobs and generate substantial tax revenue for Harrison County, contributing to local economic growth.

Under a long-term Power Purchase Agreement (PPA), Constellation Energy has committed to purchasing both the power generated and the renewable energy certificates from the Blue Moon Solar facility. This agreement ensures a steady revenue stream and mitigates financial risks associated with market fluctuations, underscoring the project's viability.

As of March 2025, Recurrent Energy has developed approximately 12 GWp of solar projects and 6 GWh of energy storage projects worldwide, with a pipeline of 25 GWp solar and 69 GWh storage capacity, excluding China. The Blue Moon Solar project represents a strategic expansion of Canadian Solar's renewable energy portfolio, contributing to its geographic diversification in North America and strengthening its position in the renewable energy sector.

Canadian Solar's stock currently trades at an average target price of $12.78, with a high estimate of $23.00 and a low estimate of $7.28. This indicates a potential 2.37% upside from the current price. The company's estimated GF Value is $22.12, suggesting a 77.24% upside.

References:
[1] https://www.prnewswire.com/news-releases/recurrent-energy-secures-260-million-financing-for-blue-moon-solar-project-in-kentucky-302507575.html
[2] https://www.gurufocus.com/news/2983562/recurrent-energy-secures-260-million-financing-for-blue-moon-solar-project-in-kentucky-csiq-stock-news
[3] https://www.gurufocus.com/news/2983557/canadian-solar-csiq-secures-financing-for-blue-moon-solar-project-csiq-stock-news