In another major boost to Arizona’s clean energy buildout, Recurrent Energy has reached financial close on two large-scale renewable projects in Maricopa County. The company, a subsidiary of Canadian Solar Inc., secured $825 million in construction financing and tax equity to advance the Desert Bloom Storage and Papago Solar facilities—two cornerstone assets designed to strengthen grid reliability and support growing regional demand.
The investment further highlights a deepening partnership between Recurrent Energy and Arizona Public Service (APS), which continues to expand its portfolio of solar and dispatchable storage resources after setting record-breaking peak energy demand this summer. Moreover, the projects illustrate how developers and utilities are increasingly pivoting toward hybrid systems that pair renewable generation with grid-scale batteries to deliver around-the-clock power.
Across the United States, many developers are accelerating a shift toward hybrid projects that combine solar generation with battery storage rather than relying solely on standalone solar farms. On October 20, 2025, Cypress Creek Renewables announced it had reached financial close on its Sundance Solar and Energy Storage project in Elbert County, Colorado — a 75 MWac solar facility paired with a 50 MW / 200 MWh battery system. The announcement further underscores the growing momentum behind hybrid renewable developments nationwide.
Construction underway on both facilities
With construction already underway, both facilities are slated to begin operations in the first half of 2026, marking a pivotal phase in Recurrent’s broader U.S. expansion strategy.
Located in Maricopa County, the 150-MWac Papago Solar plant and 600-MWh Desert Bloom Storage system will supply reliable, carbon-free energy while helping Arizona manage its surging electricity demand driven by rapid population growth and also industrial expansion. CEO Ismael Guerrero said the projects embody Recurrent’s mission to build “critical infrastructure that strengthens Arizona’s grid and also supports the state’s growing economy.”
Major financial institutions back $825M clean energy deal
The financing package—led by Nord/LB, Mitsubishi UFJ Financial Group (MUFG), CoBank, and Siemens Financial Services, with tax equity from Wells Fargo—signals strong institutional confidence in Recurrent’s execution and APS’s long-term energy transition plan.
Other project partners
Primoris Services Corporation is handling engineering, procurement, and construction for Desert Bloom Storage, while Blattner Energy leads construction at Papago Solar. Together, the projects are employing hundreds of construction workers and are expected to generate millions in local tax revenue once operational.
The developments also deepen Recurrent’s footprint in the region. In July 2025, the company energized its 1,200-MWh Papago Storage facility—its first major standalone battery project with APS—under a 20-year tolling agreement that came online just ahead of peak summer demand.
Fact Sheet: Recurrent Energy Arizona solar and storage projects
Developer: Recurrent Energy (subsidiary of Canadian Solar Inc.)
Projects: Desert Bloom Storage (600 MWh) and Papago Solar (150 MWac)
Location: Maricopa County, Arizona
Financing: $825 million construction and tax equity
Financial Partners: Nord/LB, MUFG, CoBank, Siemens Financial Services, and Wells Fargo
EPC Contractors: Primoris Services Corporation (Desert Bloom) and Blattner Energy (Papago Solar)
Operational Start: Expected 1H 2026
Utility Partner: Arizona Public Service (APS)
Community Impact: Hundreds of construction jobs, significant local tax revenue, and support for local schools
