Canadian Solar Secures JPY4 Billion credit facility
Canadian Solar Inc. has announced that its wholly-owned subsidiary Canadian Solar Projects K.K. has entered into a 3-year credit agreement for JPY4 billion (US$36 million) with Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL), a member of Sumitomo Mitsui Financial Group.
SMFL is one of Japan's largest leasing institutions with global presence. The facility received commitments from five finance leasing institutions. The company intends to use proceeds from the facility to expand the development of solar energy projects in Japan.
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc. commented:
"We are pleased to secure strong support from a leading group of finance leasing institutions. We value our partnership with SMFL. This is our second financing with the broader Sumitomo Mitsui Financial Group. We have successfully raised in excess of JPY13 billion (US$117 million) of credit lines with them. We look forward to expanding our banking relationship in Japan and other important markets."
Canadian Solar is a large solar power company. As a manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 16 years, Canadian Solar has successfully delivered over 19 GW of quality modules to over 100 countries around the world.
Country news
-
-
March 17, 2017
Renova to study feasibility of 560MW Yurihonjo Offshore Wind project
Renova, a Japanese renewable energy developer, to carry out a feasibility study on a 560 MW nearshore wind farm off the city of Yurihonjo in Akita Prefecture in the northern Tohoku region of Japan.
Read more -
February 23, 2017
First Solar Secures loan for 59.5 MW solar project in Ishikawa, Japan
First Solar, Inc. has announced that it has obtained non-recourse project debt financing of approximately JPY27 billion (US$240 million) in a syndicated loan arranged by Mizuho Bank Ltd. for a utility-scale solar project in Ishikawa prefecture, Japan.
Read more -
February 17, 2017
Kyushu Electric Power to develop Japan’s biggest offshore wind farm
The consortium led by the Japan-based utility Kyuden Mirai, has been selected to undertake the development of Japan's largest offshore wind project to date. The project, which holds a total budget of JPY175 billion (US$1.54 billion) is expected to add 229 MW of wind generation to the current wind power portfolio.
Read more -
February 15, 2017
Sonnedix announces partnering with GSSG Solar for 170 MW expansion in Japan
Sonnedix, through its Japanese operator Nippon Solar Services (NSS), has partnered with GSSG Solar to deploy a 170MW portfolio of Solar PV plants, with 47MW under construction, and the rest currently under development.
Read more -
January 11, 2017
33 MW Ohorayama wind project achieves financial close
Pattern Energy Group LP and Green Power Investment Corporation have announced the completion of financing of the 33 MW Green Power Otsuki GK power project. Pattern Development and GPI are joint venture partners on the project, which is located in Kochi Prefecture, Japan.
Read more
