Recurrent Energy, a subsidiary of Canadian Solar (NASDAQ: CSIQ), has secured an aggregated virtual power purchase agreement with EMD Electronics, Biogen, Wayfair, Autodesk, and a major healthcare company for the Liberty Solar project in Texas.

Recurrent Energy is currently developing the 100 MWac solar project in Liberty County Texas, and the project is expected to be operational in 2024.

EMD Electronics has committed to purchasing renewable energy from a 40 MW portion of Liberty Solar. Biogen will procure renewable energy from a 20 MW portion. Wayfair will obtain renewable energy from a 15 MW portion, while Autodesk has secured a 10 MW portion. The remaining 15 MW portion of renewable energy generated by Liberty Solar will be purchased by a large healthcare company. 

The 5 companies will collectively purchase 100% of the project's production capacity. The initiative showcases the growing interest across various sectors in supporting large-scale renewable energy projects. 

Dr. Shawn Qu, Chairman and CEO of Canadian Solar stated: “Recurrent Energy is pleased to advance one of the largest peer-buyer organized corporate virtual power purchase agreements with this consortium of customers.”

Over the past 22 years, Canadian Solar has successfully delivered around 88 GW of premium-quality, solar photovoltaic modules to customers around the world.

Shares of Canadian Solar trade on the NASDAQ under the ticker symbol CSIQ.