Canadian Solar completes sale of 61 MWp Japanese solar projects

Canadian Solar Inc. has completed the sale of two operational projects totaling 61 MWp to the Canadian Solar Infrastructure Fund (CSIF) for JPY30.6 billion (US$280.1 million).

To finance the acquisition of the 53 MWp Oita Hiji-machi and 8 MWp Miyagi Ogawara projects, CSIF recently completed an international public offering and raised over JPY18 billion (US$166 million) on the Tokyo Stock Exchange. Canadian Solar participated in this transaction and continues to own approximately 15% of CSIF. 

CSIF has also issued over JPY19 billion (US$175 million) of long-term debt to maintain its capital structure.