Recurrent Energy, a subsidiary of Canadian Solar, has secured $695 million in project financing and tax equity for its 330 MW Cobalt Solar project in Riverside County, California. The fully permitted project is currently under construction and is expected to begin commercial operations by the end of 2027. The financing includes about $484 million in debt led by MUFG and Nord/LB and a $211 million tax equity investment from Wells Fargo. Once operational, Cobalt Solar is expected to generate enough electricity to power about 82,000 homes annually and contribute approximately $14 million in property tax revenue to Riverside County.
Commercial and industrial (C&I) focused renewable energy developer ForeFront Power has commissioned its first Erthos Earth Mount Solar system at the City of Fresno’s Northeast Surface Water Treatment Plant in California. The technology mounts solar modules directly on the ground, eliminating the need for structural steel and reducing racking and installation costs. The system began commercial operation in March 2026 and has generated 862 MWh for the city, operating at an average of 101% of expected production, the company claims. It forms part of ForeFront Power’s 27 MW-DC solar and battery storage portfolio across three Fresno water facilities, which is expected to save ratepayers more than $122 million by 2045, it adds.
SunScout Holding Limited of New Zealand has priced its initial public offering (IPO) at $5 per Class A ordinary share, offering 3.1 million shares for expected gross proceeds of $15.5 million. The solar-powered robotic mower company said its shares are expected to begin trading on the NYSE American and NYSE Texas on August 12 under the ticker SNSC. The IPO is expected to close around August 13, subject to customary conditions. SunScout plans to use the proceeds to establish a manufacturing plant in Austin, Texas, as well as for product development, inventory, marketing, working capital, loan repayment, and the acquisition of Brightway Energy LLC.
Heelstone Renewable Energy, a Qualitas Energy company, has acquired the 188 MW Cypress Pointe Solar Project in Texas from Azimuth Renewables. The development-stage project is located in Sabine County within the Southwest Power Pool (SPP) market, with commercial operations targeted for 2029. Heelstone said its location offers flexibility in securing offtake from corporate and industrial customers, hyperscalers, utilities, and public-sector buyers.
LevelTen Energy Secures ABB Investment
Switzerland-headquartered global technology giant ABB has formed a strategic partnership and made a minority investment in LevelTen Energy, a clean-energy transaction platform based in the US. Financial details of the transaction were not disclosed. US-based LevelTen claims to have facilitated over 20 GW of clean energy transactions across more than 35 markets in North America and Europe, including power purchase agreements (PPAs). The partnership will combine LevelTen’s clean energy contracting and renewable energy procurement capabilities with ABB’s expertise in electrification, digital solutions, and energy management. ABB said the move will expand its energy and carbon advisory services for C&I customers seeking long-term clean electricity.
RWE and Google have signed a 15-year PPA covering the full output of RWE’s 155 MW AC Crooked Creek Solar project in McCurtain County, Oklahoma. The project is RWE’s first solar development in the state. RWE says it plans to begin construction on site later this year, with commercial operations expected in 2028. The project will supply electricity to support Google’s operations in the SPP market and is expected to create up to 250 jobs during peak construction.
