GUELPH, Ontario — Canadian Solar has signed a financing agreement pursuant to which Royal Bank of Scotland (“RBS”) has agreed to provide a GBP19.2 million ($29.0 million) term loan to Canadian Solar for the construction of seven solar power plants with a total installed capacity of 38MWp in the United Kingdom.
“We are pleased to announce the term loan facility with RBS that will support the construction of seven solar systems and expand our fleet of solar plants in the UK by 38 MWp, to 78 MWp,” said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. “We are also pleased with the execution of our Energy business plan across all of our key markets as we continue to successfully develop, finance and build high quality solar energy assets in low risk geographies.”
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 12 GW of premium quality modules in over 70 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publically listed on NASDAQ since 2006.