Canadian Solar announced that it won J-Money’s Best Structured Product Award for its dual-tenor green project bond during its Japan Deals of the Year 2017 awards program.
This is the second award win for dual-tenor green project bond. Earlier the company won Project Bond of the Year Award by Environmental Finance and third financing award to date worldwide for 2017.
J-Money awards recognize best financial practices in Japan, and are based on industry peer assessments from the financial industry.
The award affirms that the world’s first dual-tenor green project bond, raising JPY5.4 billion (US$49 million) offered by Canadian Solar for its 19 MWp Gunma Aramaki solar power project, is a groundbreaking structure for international structured finance, Canadian Solar said.
“We are honored once more with this second award. The international recognition encourages us to commit to further innovation in the Japan market. We garnered immense support from our business partners, investors, and financiers to shape an innovative financing structure,” said Dr. Shawn Qu, chairman and chief executive officer.
The Gunma Aramaki project bond received an investment grade rating of “A”, the highest rating in Japan PV sector, by the Japan Credit Rating Agency (JCR).
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