Canadian Solar Inc. has closed a US$45 million financing with Natixis, an arm of Groupe BPCE, the second largest banking group in France. Proceeds from the non-recourse financing will be used to construct the Company's 68MWp solar power project in Aguascalientes, Mexico.
Canadian Solar was awarded the Aguascalientes project during the 2016 inaugural Mexico energy auction. Electricity generated by the project will be sold to Comisión Federal de Electricidad, under a 15-year Power Purchase Agreement (PPA) for energy and capacity, and 20-year for Clean Energy Certificates for approximately US$47.95/MWh.
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