August 11, 2020
Canadian Solar Inc. has announced its wholly-owned subsidiary, Recurrent Energy, LLC closed US$282 million of debt financing to construct its Maplewood and Maplewood 2 solar projects, located in Pecos County in the Permian Basin of West Texas. The financing was provided by a bank club led by Norddeutsche Landesbank, which included Export Development Canada, Rabobank, National Bank of Canada and Bayerische Landesbank.
Latham & Watkins LLP represented Recurrent Energy, LLP on the financing with a team led by San Diego partner Omar Nazif, with San Diego associates Joanna Gorska and Mary Nicoletta, and New York associate Ying Cheng. Advice was also provided on tax matters by New York partner Eli Katz, with Chicago associate Michael Zucker; on energy regulatory matters by Washington, D.C. partner Tyler Brown; on environmental matters by Los Angeles counsel Joshua Marnitz; on benefits matters by San Diego partner Holly Bauer; and on compliance matters by Washington, D.C. counsel Annie Froehlich.