Canadian Solar secures USD 100 million guarantee, credit facility from Export Development Canada

The guarantees or letters of credit will support Canadian Solar’s PV project development
The guarantees or letters of credit will support Canadian Solar’s PV project development

Canadian Solar Inc. (Guelph, Ontario) on September 22nd, 2016 announced that it has signed a financing agreement, pursuant to which, Export Development Canada (EDC) has agreed to provide guarantees or letters of credit of up to USD 100 million to Canadian Solar to support its global activities of solar photovoltaic (PV) project development.

Royal Bank of Canada and Toronto branch of China Construction Bank Corporation will serve as fronting banks on the facility.

“We are very pleased to work with EDC to execute on our global solar power business strategy. With EDC's backing, we are able to improve our financial flexibility on our capital allocation to new solar projects,” commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.

“The continuous support we received from EDC is a testament to our leading position in the global solar industry. We value our strategic partnership with EDC as we continue to deliver on our commitment to accelerating the deployment of clean, reliable, emission-free solar energy worldwide.”

 

2016-09-22 | Courtesy: Canadian Solar Inc. | solarserver.com © Heindl Server GmbH

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