Recurrent Energy, a solar and energy storage project developer and wholly owned subsidiary of Canadian Solar, announced the sale of its Gunning hybrid solar and battery storage project in Australia to a European infrastructure and investment group.
Gunning Energy Park, located in New South Wales, comprises a 275 MW solar plant with a 120 MW battery energy storage system, which will connect to the National Electricity Market via a Transgrid transmission line.
Ismael Guerrero, CEO of Recurrent Energy, said, “We are proud to have executed the sale of our hybrid solar and battery project in Australia. This milestone builds on our continued success in the country, highlights our ability to develop innovative, large-scale renewable energy projects, and marks an important step in advancing Australia’s transition to a cleaner and more reliable energy system.”
This transaction follows a recent financial close for its 171 MW Carwarp Energy Park in north-west Victoria, backed by a long-term power purchase agreement, and the completed sale of the 100 MW/200 MWh Mannum battery energy storage project in South Australia to Epic Energy, a South Australian-based energy infrastructure owner and operator.
In 2025, Recurrent Energy closed multiple financings for its projects in the U.S., including $825 million in construction and tax equity financing for its Desert Bloom storage and Papago Solar projects in Texas, and $260 million in project and tax equity financing for the 94 MW Blue Moon Solar project located in Kentucky.
In the first nine months of 2025, approximately 29 GW of solar projects were acquired compared to 28.3 GW in 9M 2024, according to Mercom’s 9M and Q3 2025 Solar Funding and M&A report.
Earlier in November 2025, Neoen, an independent renewable energy producer that develops, finances, builds, and operates large-scale solar, wind, and battery storage projects, entered into an agreement with Plenitude, a subsidiary of Eni, to sell a 760 MW portion of its French operating asset portfolio.
