Enertis Applus+ acts as technical advisor to Recurrent Energy in financial close for a 43 MWh BESS system in Italy

• The construction of a 43 MWh BESS system is part of the €61.5 million non-recourse financing obtained by Recurrent Energy, which also includes a 124 MW solar portfolio.
• Enertis Applus+ carried out the technical due diligence report for the BESS project, conducting a comprehensive and independent analysis to identify technical risks and verify its robustness.

Madrid, July 16, 2025.- Enertis Applus+, a global engineering consultancy firm with extended expertise in the renewable energy and storage sectors, acted as an independent technical advisor in closing the BESS portion of the €61.5 million non-recourse financing provided by Santander Bank for Recurrent Energy, a subsidiary of Canadian Solar Inc. (NASDAQ: CSIQ) and a world leader in the development and management of solar and battery energy storage projects (BESS). The operation includes the construction of a 43 MWh BESS project, in addition to financing a 124 MW solar project portfolio.

As part of the services provided, Enertis Applus+ focused on the BESS project and carried out the technical due diligence for the lender.

This comprehensive and independent project evaluation validates technical and financial aspects, such as project design and technologies used, including suppliers bankability; estimation of expected performance and lifecycle duration; review of main equipment supply contracts, as well as construction and O&M contracts; and analysis of environmental and regulatory permits to verify compliance with required quality codes and standards, as well as to identify potential other technical-economic risks. The final objective is to guarantee financial institutions that the BESS system is technically sound, bankable, compliant with regulatory standards, and capable of generating the expected cash flows.

Simone Prato, Country Lead – Italy at Enertis Applus+, emphasized the importance of the company’s accumulated experience: “This project represents another piece in the growth of the Italian energy storage market. Since 2018, Enertis Applus+ has been a pioneer in technical due diligence for BESS systems internationally, and we are pleased to contribute to the development of a strategic sector for the country’s energy transition.”

Enertis Applus+ has been present in Italy since 2013, a market where it has provided consulting, engineering, quality control (QAQC), and technical inspection services for more than 50 BESS projects, both standalone and hybridized with renewable installations, totaling a storage capacity of more than 30 GWh. Meanwhile, Applus+ has been operating in the country since 2012 in the oil and gas, renewables, energy, and construction sectors.