GUELPH, Ontario | Canadian Solar Inc. —
Canadian Solar announced that Manulife has agreed to provide approximately C$52.8 Million (US$40.8 Million) in construction and term financing to Canadian Solar for the Aria solar plant located in Springwater, Ontario, Canada.
The Aria project will be acquired by Concord Green Energy Inc. (“Concord”) after commercial operation. BowMont Capital and Advisory acted as the Financial Advisor to Concord.
Developed by Canadian Solar, the 9 MW AC Aria solar power plant is under construction, with grid connection expected to occur in the fourth quarter of 2015.
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, “The closing of this loan demonstrates Canadian Solar’s marketability and respect amongst financial institutions. With one of the solar industry’s highest bankability approval ratings, Canadian Solar again affirms its consistent track record as a leading project developer in North America.”
About Canadian Solar Inc.
Founded in 2001 in Canada, Canadian Solar is one of the world’s largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and a provider of solar energy solutions, Canadian Solar has a geographically diversified pipeline of utility-scale power projects. In the past 14 years, Canadian Solar has successfully deployed over 10 GW of premium quality modules in over 70 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the world, having been publically listed on NASDAQ since 2006.