Recurrent Energy Secures $695 Million for 330 MW Solar Project in California
Recurrent Energy has finalized $695 million in financing for the Cobalt Solar facility in Riverside County, California. This project, targeting commercial operations by the end of 2027, will enhance local clean energy capacity and is projected to generate revenue of approximately $14 million in property taxes for the region.
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Recurrent Energy has closed $695 million in financing for the Cobalt Solar facility, a 330 MW solar project in Riverside County, California. The financing includes a debt package of approximately $484 million, led by Mitsubishi UFJ Financial Group and Nord/LB, alongside a $211 million tax equity investment from Wells Fargo.
Construction, managed by Blattner Energy, is underway, targeting completion by late 2027. The facility aims to power around 82,000 homes annually and is expected to contribute $14 million in property tax revenue to Riverside County. As of late 2025, Recurrent Energy has a global pipeline of 23 GWp of solar and 73 GWh of energy storage capacity.
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