HARRISON COUNTY, Ky. — Recurrent Energy, a subsidiary of Canadian Solar, has closed project financing and tax equity worth $260 million for Blue Moon Solar, a 94 MW utility-scale solar power plant now under construction in Harrison County, Kentucky.

According to Recurrent, once operational the project will generate enough clean electricity to power about 14,000 homes every year. The financing, which combines tax equity and construction capital, was secured with the support of U.S. Bank.

“We believe everyone has a role to play in creating a sustainable future, and financing a project like Blue Moon is one way we can be responsible stewards of the environment,” said Darren Van’t Hof, managing director of environment finance for U.S. Bancorp Impact Finance. “Blue Moon Solar is one of several projects we’ve financed for Recurrent Energy, and we’re proud to support its work to expand sources of clean energy, strengthen the energy grid, and drive local job creation.”

Under a power purchase agreement, Constellation will buy the electricity and renewable energy certificates generated by Blue Moon Solar once the facility is online.

Construction on the 1,581-acre site began in March 2023, with a final project footprint expected to be about 651 acres. Commercial operation is slated for 2026, at which point Recurrent Energy will continue to own and operate the facility.

“Harrison County is open to investment, and we are pleased to work with Recurrent Energy on their newest energy facility. Blue Moon Solar will provide a major source of new tax revenue to our county,” said Jason Marshall, Harrison County Judge/Executive.
The project marks Recurrent Energy’s first utility-scale solar development in Kentucky, a state that currently ranks 38th in the U.S. for solar capacity, according to the Solar Energy Industries Association (SEIA). SEIA estimates Kentucky’s installed solar capacity is around 866 MW, covering just 0.79% of the state’s electricity needs — a figure Blue Moon Solar will help boost significantly.

Beyond producing clean power, the project is expected to bring substantial local economic benefits. During construction, hundreds of jobs will be created, while Recurrent estimates Blue Moon Solar will generate about $2.4 million in total tax revenue over its lifespan, with $1.4 million directly benefiting Harrison County.

Through its Community CaRE Program, Recurrent Energy is also donating to local organizations, including the Harrison Memorial Hospital Foundation, and supporting community events to build goodwill as the project moves ahead.

Globally, Recurrent Energy has built an extensive portfolio, developing, constructing, and connecting approximately 12 gigawatts (GW) of solar projects and 6 gigawatt-hours (GWh) of energy storage across six continents.

As Kentucky’s energy grid looks to diversify and expand its renewable footprint, local officials say large-scale solar investments like Blue Moon Solar will play an important role in boosting grid resilience, attracting new business, and delivering long-term economic growth.

Originally reported by Anne Fischer in PV Magazine.