Canadian Solar Subsidiary Recurrent Energy Secures 20-Year Tolling Agreement With Arizona Public Service Company
Portfolio Pulse from Benzinga Newsdesk
Canadian Solar's subsidiary, Recurrent Energy, has secured a 20-year tolling agreement with Arizona Public Service Company. The construction of Papago Storage is expected to begin in Q3 2024 and is planned to be operational by Q2 2025. Once operational, it will be the largest standalone energy storage project in Arizona.
August 16, 2023 | 11:04 am
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The 20-year tolling agreement secured by Canadian Solar's subsidiary, Recurrent Energy, with Arizona Public Service Company could potentially boost Canadian Solar's revenues and strengthen its position in the energy storage market.
The news directly pertains to Canadian Solar (CSIQ) as it's about their subsidiary, Recurrent Energy. The 20-year tolling agreement with Arizona Public Service Company is a significant long-term commitment that could provide a steady stream of revenue for Canadian Solar. Furthermore, the Papago Storage project, once operational, will be the largest standalone energy storage project in Arizona, which could enhance Canadian Solar's reputation and competitive position in the energy storage market.
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