Canadian Solar signs C$120 million loan agreement with Bank of China

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Canadian Solar signs C$120 million loan agreement with Bank of China

Greentech Lead America: Canadian Solar, a provider of
ingots, wafers, solar cells, solar modules and other solar applications, has
signed a financing agreement with Bank of China for a C$120
Million construction loan for solar power plants in Canada.

The loan will be used to support the construction of
Canadian Solar’s solar power projects which are expected to be built during
2012, 2013, and into 2014.

“We are delighted to announce this agreement with
Bank of China, a long time banking partner to Canadian Solar. Their strength
and reputation as a global bank combined with their competitive terms makes
them an ideal partner to support the growth of our project business
in Ontario. This agreement also represents an important step towards our
goal of generating over 40 percent of our revenue from total solutions in 2013
and beyond,” said Shawn Qu, Canadian Solar’s Chairman and CEO.

Canadian Solar continues to source innovative new banking
partners to finance its Ontario and its global pipelines and
initiatives.

Canadian Solar to buy majority stake in 16 power projects from
SkyPower for $184.7 million

Recently, Canadian Solar said that it is planning to buy
majority stake in 16 power projects from SkyPower for about $184.7 million. The
acquisition is part of its plan to concentrate on smaller utility-scale
projects. The 190-200 MW projects will generate more than C$800 million in
revenue for Canadian Solar.

 

editor@greentechlead.com

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