Connect with us

Technology

Recurrent Energy Announces Closing of $500 Million Investment from BlackRock

Published

on

NEW YORK and GUELPH, Ontario, Oct. 3, 2024 /PRNewswire/ — Recurrent Energy, a subsidiary of Canadian Solar Inc. (“Canadian Solar”) (NASDAQ: CSIQ) and a global developer, owner, and operator of solar and energy storage assets, announced today the final closing of a $500 million investment in Recurrent Energy by BlackRock through a fund managed by its Climate Infrastructure business (“BlackRock”).

The transaction, announced in January 2024, has been completed following the receipt of the second and final payment. The first payment took place in June 2024. As agreed between the parties, BlackRock’s total investment has reached $500 million, representing 20% of the outstanding fully diluted shares of Recurrent Energy on an as-converted basis. Canadian Solar will continue to own the remaining majority shares of Recurrent Energy.

This milestone enables Recurrent Energy to advance investment in its high value project development portfolio, supporting its strategic transition from a pure developer to a developer plus long-term owner and operator in select markets including the U.S. and Europe. This transition will allow Recurrent Energy to generate more stable long-term revenue in low-risk currencies and capture greater value from its diversified global project development pipeline.

Recurrent Energy is one of the world’s largest clean energy project development platforms with a strong and established track record, having developed, built, and connected over 11 gigawatts (GWp) of operating utility-scale solar projects and 3.7 gigawatt hours (GWh) of energy storage projects across six continents since 2009.

Ismael Guerrero, CEO of Recurrent Energy, said, “We value our partnership with BlackRock and appreciate their commitment. This strategic partnership positions Recurrent Energy at the forefront of the renewable energy industry, providing the financial strength necessary to continue developing key solar and energy storage projects globally, while also supporting our mission to deliver clean, reliable, and affordable power to the world, today and tomorrow.” 

David Giordano, Global Head of Climate Infrastructure, BlackRock, added, “With this investment from BlackRock’s Climate Infrastructure Global Renewable Power Fund IV, Recurrent Energy is well-positioned to accelerate the growth of its solar and battery storage projects at utility scale in critical, fast-growing markets. We are eager to collaborate, contributing our expertise to shape a top global independent power producer.”

For more information, please refer to Form 6-K filed with the Securities and Exchange Commission on January 23, 2024 regarding this investment in connection with the initial transaction announcement.

About Recurrent Energy:
Recurrent Energy is one of the world’s largest and most geographically diversified utility-scale solar and energy storage project development, ownership and operations platforms. With an industry-leading team of in-house energy experts, Recurrent Energy is a wholly owned subsidiary of Canadian Solar Inc. and function as Canadian Solar’s global development and power services business. Recurrent Energy has completed the development of 11 gigawatts (GWp) of operating utility-scale solar projects and 3.7 gigawatt hours (GWh) of energy storage projects across six continents. Recurrent Energy has more than 26 GWp of solar and 56 GWh of battery storage projects under development.

About Canadian Solar:
Canadian Solar was founded in 2001 in Canada and is one of the world’s largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery energy storage solutions, and developer of utility-scale solar power and battery energy storage projects with a geographically diversified pipeline in various stages of development. Over the past 23 years, Canadian Solar has successfully delivered over 133 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 11 GWp of solar power projects and 3.7 GWh of battery energy storage projects across the world. Currently, the Company has approximately 1.6 GWp of solar power projects in operation, 6.5 GWp of projects under construction or in backlog (late-stage), and an additional 20.9 GWp of projects in advanced and early-stage pipeline. In addition, the Company has 1 GWh of battery energy storage projects in operation and a total battery energy storage project development pipeline of around 63 GWh, including approximately 8.5 GWh under construction or in backlog, and an additional 54.3 GWh at advanced and early-stage development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Safe Harbor/Forward-Looking Statements 
Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the “Safe Harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as “believes,” “expects,” “anticipates,” “intends,” “estimates,” the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business, regulatory and economic conditions and the state of the solar power and battery energy storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to global pandemics; supply chain disruptions; governmental support for the deployment of solar power and battery energy storage; future available supplies of silicon, solar wafers and lithium cells; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as China, the U.S., Europe, Brazil and Japan; changes in effective tax rates; changes in customer order patterns; changes in product mix; changes in corporate responsibility, especially environmental, social and governance (“ESG”) requirements; capacity utilization; level of competition; pricing pressure and declines in or failure to timely adjust average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; the pipeline of projects and timelines related to them; the ability of the parties to optimize value of that pipeline; continued success in technological innovations and delivery of products with the features that customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange and inflation rate fluctuations; litigation and other risks as described in the Company’s filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 26, 2024. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

Canadian Solar Inc. Investor Relations Contacts 
Wina Huang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com

Recurrent Energy Media Contact
Inés Arrimadas
Recurrent Energy
comms@recurrentenergy.com

BlackRock
Christopher Beattie
646-231-8518
christopher.beattie@blackrock.com

View original content:https://www.prnewswire.com/news-releases/recurrent-energy-announces-closing-of-500-million-investment-from-blackrock-302266595.html

SOURCE Canadian Solar Inc.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Simply announces compatibility with AI glasses from Meta

Published

on

By

NEW YORK, April 29, 2026 /PRNewswire/ — Simply, the creative hobbies leader behind the market leading apps Simply Piano, Simply Guitar, Simply Sing, and Simply Draw, today announced compatibility with AI glasses from Meta.

 

The launch signals Simply’s next leap – from mobile and augmented reality into AI glasses – as part of its long–term vision to build a fully multimodal AI platform that connects physical creativity, digital experiences, and wearable interfaces.

After pioneering music learning through augmented reality with Simply Piano for Apple Vision Pro and Simply Piano for Android XR, Simply is now expanding its creative hobbies ecosystem into AI–powered wearables. The new integration with Simply Draw and AI glasses from Meta lets learners capture their drawing process in real time, generating AI–enhanced timelapses and shareable creative assets that showcase their creation. 

“This is an exciting step toward a new era for creativity,” said Yuval Kaminka, CEO and Co–Founder of Simply. “We believe that the way we experience the arts, learning, playing and creative expression at home will become fully contextual. AI glasses allow us to move closer to a true AI creative companion – a multimodal AI, one that understands what you’re doing and supports you in the moment.”

“AI glasses are becoming a natural extension of how we learn and create,” added Eliran Douenias, Head of Product Innovation at Simply. “Our products already enable immersive and virtual experiences with XR and spatial computing, now we’re adding AI glasses from Meta as the next interface – and it’s just the first of an exciting roadmap ahead.”

“Simply’s early move into the AI glasses space puts us ahead of the curve and positions us to lead in how wearables – specifically AI glasses – become part of everyday creative life,” said Douenias.

With this launch, Simply is expanding its platform for the AI era. The new compatibility with AI glasses from Meta enhances how learners see, capture, and share their creative process, with many more experiences to follow.

About Simply

Simply is the world’s leading AI creativity platform redefining how people learn and express themselves through music, arts, crafts, and more. Its award–winning apps – Simply Piano, Simply Guitar, Simply Sing, and Simply Draw – have empowered millions globally to pick up and develop fulfilling creative hobbies that last.

Contact info: eliran@hellosimply.com

Video – https://www.youtube.com/watch?v=VquEDFtY-40
Photo – https://mma.prnewswire.com/media/2940139/Simply.jpg

View original content to download multimedia:https://www.prnewswire.com/news-releases/simply-announces-compatibility-with-ai-glasses-from-meta-302755903.html

SOURCE Simply

Continue Reading

Technology

Levine Leichtman Capital Partners Hires James Smith as Managing Director

Published

on

By

LONDON, April 29, 2026 /PRNewswire/ — Levine Leichtman Capital Partners (“LLCP”) announced today that James Smith has joined the Firm as a Managing Director in the Investment Management group. James will be based in LLCP’s London office.

Josh Kaufman, Head of Europe at LLCP, said, “We are thrilled to welcome James to LLCP. James adds valuable experience to the team within our core Business Services sector vertical. We look forward to the impact he will have as our European business and team continues to grow.”

James joins LLCP from Advent International where he was a senior member of the European Business & Financial Services team and participated in numerous successful transactions over his 12-year tenure. Prior to Advent, James worked at Bain & Company. James’ full biography can be found at https://www.llcp.com/team

About Levine Leichtman Capital Partners

Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 42-year track record of investing across various targeted sectors, including Business Services, Franchising & Multi-unit, Education & Training and Engineered Products & Manufacturing. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity.

LLCP’s global team of dedicated investment professionals is led by 9 partners who have worked at LLCP for an average of 20 years. Since inception, LLCP and its affiliates have managed approximately $18.5 billion of capital across nearly 20 investment funds and has invested in approximately 120 portfolio companies. LLCP currently manages $12.6 billion of assets and has offices in Los Angeles, New York, Chicago, Miami, London, Stockholm, Amsterdam and Frankfurt.

Media Contact: Isabel Moon, imoon@llcp.com

Logo – https://mma.prnewswire.com/media/2349427/5942845/LLCP_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/levine-leichtman-capital-partners-hires-james-smith-as-managing-director-302756349.html

Continue Reading

Technology

Appian Advances AI in Process to Deliver Enterprise Outcomes at Scale

Published

on

By

New capabilities in agentic automation and AI-assisted spec-driven development transform complex work.

ORLANDO, Fla., April 29, 2026 /PRNewswire/ — Appian [Nasdaq: APPN] today announced enhancements to the Appian Platform, including AI-assisted spec-driven development and Model Context Protocol (MCP) integration for agents. By anchoring AI within processes, Appian eliminates the primary hurdles to AI value: fragmented data, and a lack of reliability and control. Process models provide the structure needed to deliver results safely, and at scale.

Advancements in AI agents enable more intelligent, coordinated work

AI agents in Appian are smarter, safer and more effective because they have better structure, context and guardrails. Appian is enhancing interoperability across its AI ecosystem. By adopting powerful standards like Model Context Protocol (MCP), Appian agents will be able to interface securely with external enterprise systems. Third party AI agents will have access to powerful Appian tools like data fabric which uniquely provides unified read-write access to enterprise data.

Appian is also advancing agent learning by providing users the ability to track agent performance, and then apply an agent’s memory across processes to improve decision making. Users will soon be able to expand on this by giving AI guidance on what objectives to optimize against and recommend improvements that can be applied safely.

Customer value

Global Excel Management, a worldwide healthcare risk management provider, uses Appian to transform claims processes with AI.

“As part of our digital transformation we are evolving our claims processes by transitioning from fragmented workflows to an enhanced level of operations using technological advancements enabled with AI features,” said Pascal Tanguay, SVP, Global Technology Services, Global Excel Management. “With Appian, our processes will be unified. From initial intake to adjudication, our advanced technology will reduce redundant tasks and lessen complexity for our team members. This ensures that our claims processes are consistent and completed more efficiently and accurately.”

Context gives agents a common vocabulary for business data

To support advanced agent capabilities, Appian is augmenting its industry-leading data fabric. Appian’s data fabric has been enhanced to provide a unified metadata model that gives agents clearer context about how information is structured and connected across systems.

Furthering its commitment to supporting industry-leading data platforms, Appian is launching a technology partnership with Snowflake. This unites Appian as the AI orchestration layer with Snowflake’s AI Data Cloud, combining data aggregation, model training, and process orchestration to enable immediate business value. Direct MCP-enabled integration between Appian data fabric and Snowflake equips agents with deep enterprise context, and allows them to interact directly with Snowflake Cortex AI to drive intelligent, data-backed decisions.

“Enterprises don’t need more AI experiments, they need AI that delivers real business outcomes on governed data,” said Baris Gultekin, Vice President of AI, Snowflake. “By combining Appian’s process orchestration and data fabric with the Snowflake AI Data Cloud, we’re bringing intelligence directly into the flow of work. Together, we enable secure, enterprise-grade AI where agents can access trusted data through Cortex AI, act with context, and drive measurable impact across the business.”

AI-assisted spec-driven development

AI-assisted development has revolutionized coding, but mission-critical work needs more than fast, cheap code. Appian puts structure around AI-assisted development. Without that structure, AI-generated code can introduce compliance issues and technical debt instead of business value.

Appian is introducing AI-assisted spec-driven development. AI extracts rich specifications from legacy applications to create a clear visual plan. This plan helps visualize the UI, data models and process flows for rapid and iterative operational improvements. AI developer agents, operating under human supervision, complete tasks according to specifications, accelerating delivery and reducing rework.

New developer MCP servers will allow organizations to use their choice of AI development tools, such as Claude Code or Kiro to build and update Appian applications. Appian will support a wide range of AI models, enabling teams to work in the environments they prefer.

Together, these enhancements will deliver the speed and developer productivity of AI-assisted development, with enterprise-grade control.

“Appian Composer, Agents and Appian MCP servers enable trusted agentic process orchestration and application modernization,” said Mike Beckley, Chief Technology Officer and Founder of Appian. “Composer complements Appian’s agentic orchestration and data fabric with new spec-driven development tools that are both conversational and iterative. Beneath the covers, Appian Composer is built on Appian’s new open MCP – a model-driven representation of your complete application estate—requirements, apps, data entities, logic, workflows, security/governance rules, integrations, and multi-object dependencies—now exposed as context for developers and agents to safely evolve and optimize.”

The advancements announced today were unveiled at Appian World 2026 and will be available in coming releases. Learn more at www.appian.com

About Appian

Appian provides process automation technology. We automate complex processes in large enterprises and governments. Our platform is known for its unique reliability and scale. We’ve been automating processes for 25 years and understand enterprise operations like no one else. For more information, visit appian.com. [Nasdaq: APPN]

Follow Appian: LinkedIn, Youtube, Instagram, Facebook, and X.

Logo – https://mma.prnewswire.com/media/1488235/5943345/Appian_Caption_2700px_Logo.jpg

 

View original content:https://www.prnewswire.co.uk/news-releases/appian-advances-ai-in-process-to-deliver-enterprise-outcomes-at-scale-302756511.html

Continue Reading

Trending