GUELPH, Ontario | Canadian Solar Inc. —
Canadian Solar has signed a JPY3.5 billion (US$28.35 million) credit facility agreement with Rabobank Hong Kong. The credit facility has a two-year maturity and will be used to finance the construction of an initial portfolio of up to 20 MWp of Canadian Solar’s solar power plants in Japan.
“We are pleased to complete this credit facility to support the construction of our solar projects in Japan. This is the second construction loan we received from Rabobank, which further enhances our partnership in the global energy markets,” commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, “Japan is a key market for us, and we are excited to build-out our solar power pipeline to support the launch of our planned Yieldco.”
Amardeep Parmar, Head — Asia, Project Finance at Rabobank said, “Renewable energy is a focus sector for Rabobank. We are pleased to provide this construction facility to Canadian Solar, an existing client of Rabobank and partner with them in their growth plans in Asia.”
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.
Rabobank Group is an international full-range financial services provider founded on cooperative principles more than 110 years ago. Headquartered in the Netherlands, the Group’s operations include banking, asset management, leasing, insurance and real estate services, serving 8.8 million clients in 40 countries.