BlackRock Brightens Canadian Solar's Power-Generation Outlook

January 24, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Canadian Solar Incorporated (NASDAQ:CSIQ) (Guelph, Ontario) got a big boost from BlackRock Incorporated (NYSE:BLK) (New York, New York) earlier this week, when the multinational investment firm's Climate Infrastructure business announced a $500 million investment in Recurrent Energy, Canadian Solar's global project development subsidiary. BlackRock will hold 20% of Recurrent's outstanding, fully diluted shares, while Canadian Solar will continue to hold the remainder. Industrial Info is tracking more than $9.6 billion worth of active and planned projects from Canadian Solar, more than $6.3 billion of which is attributed to projects across the U.S. and Canada. Canadian Solar expects Recurrent will hold 4 gigawatts (GW) of operational solar generation and 2 gigawatt-hours (GWh) of operational storage across the U.S. and Europe by the end of 2025.