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Canadian Solar Receives C$71.6 Million Construction Loan from Deutsche Bank

Published on 23 Jun 2015
CSI Solar Co., Ltd. 
Canadian Solar Inc. today announced that it has signed a financing agreement pursuant to which Deutsche Bank has agreed to provide C$71.6 Million (USD$58 Million) in non-recourse, short-term construction financing to Canadian Solar for the construction of two solar power projects in Ontario, Canada. The two power plants, both 10MW AC each, have been awarded a 20-year power purchase contract by the Independent Electricity System Operator (IESO) under Ontario's Feed-in-Tariff (FIT) Program.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, "This is the fourth construction loan package that Canadian Solar has signed with Deutsche Bank, and we value and respect our long-standing relationship with this reputable financial institution. The addition of these two projects underscores not only our successful collaboration with Deutsche Bank, but also our contribution to expanding the use of clean solar energy in Canada."


ENF Profiles For Companies Mentioned in This Article

CSI Solar Co., Ltd. (Solar Materials): https://www.enfsolar.com/csi-canadian-solar
CSI Solar Co., Ltd. (Solar Panels): https://www.enfsolar.com/csi-canadian-solar
CSI Solar Co., Ltd. (Solar Components): https://www.enfsolar.com/csi-canadian-solar
CSI Solar Co., Ltd. (Solar System Installers): https://www.enfsolar.com/csi-canadian-solar
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