Renewable Energy: Canadian Solar secures C$35MM in financing

Source:Canadian Solar

National Bank of Canada will provide Canadian Solar with up to C$35 million to finance the construction of a solar project in Ontario, Canada.

Canadian Solar
(NASDAQ: CSIQ), one of the world's largest solar power companies, announced that the National Bank of Canada will provide the company with up to C$35 million, in short-term construction financing. This credit facility will be used to finance the construction of a solar project in Ontario, Canada.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said, "The addition of National Bank of Canada, a leading Canadian-based financial institution, comes at an important time for Canadian Solar. We continue to gain significant momentum in our business, punctuated with the recent sales of several utility-scale solar projects.  Further bolstering our stable of blue chip financial and construction partners across the entire project lifecycle, this transaction gives us additional flexibility and will allow us to further accelerate the development of our already strong, actionable pipeline in Canada and worldwide."

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