On January 13, 2021, Canadian Solar announced that its subsidiary, Recurrent Energy, has completed the sale of the Slate project—expected to be one of the largest PV-plus-battery-storage projects in the United States—to Goldman Sachs Renewable Power LLC. The revenue from the transaction will be recognized in the first quarter of 2021 and commercial operation is expected in late 2021. Wilson Sonsini Goodrich & Rosati advised Goldman Sachs Renewable Power in the transaction.

The Slate project is a 300 MWac solar plus 140.25 MW/561 MWh storage project located in Kings County, California, that has commenced construction. Canadian Solar’s energy storage subsidiary, System Solutions and Energy Storage, will provide the battery storage integration solution for the project. In addition, PNC Bank is providing a tax equity commitment. The Slate project, which has signed power purchase agreements with five different off-takers, will generate enough low-cost clean energy to power approximately 126,000 California homes.

Wilson Sonsini was pleased to represent Goldman Sachs Renewable Power in the transaction.

For additional information, please see Canadian Solar’s press release.