Canadian Solar closes financing for 55 MW PV project in Japan

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar: “Japan is a key growth market for the Company, where we have 597 MWp of utility scale projects in late-stage development”
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar: “Japan is a key growth market for the Company, where we have 597 MWp of utility scale projects in late-stage development”

Canadian Solar Inc. (Guelph, Ontario) on December 5th, 2016 announced that it has closed JPY14.9 billion (USD 141.5 million) senior and subordinate non-recourse term loan facilities to finance the construction and operation of a 55 MWp solar photovoltaic (PV) power plant in the Yamaguchi prefecture, Japan. 

The facilities were arranged by Hanwha Asset Management and have a maturity of 17 years.

“This is our largest investment in Japan to date and represents a significant milestone in the build-out of our solar power pipeline,” commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. “Japan is a key growth market for the Company, where we have 597 MWp of utility scale projects in late-stage development.”

Ju Su Lee, Head of Global Alternative Investments at Hanwha said, “Renewable energy is a focus sector for Hanwha. We are pleased to arrange this facility for Canadian Solar in support of their growth plans in Asia.”

 

2016-12-06 | Courtesy: Canadian Solar | solarserver.com © Heindl Server GmbH

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