Canadian Solar has announced the signing of a JPY3.5 billion (US$28.35 million) credit facility agreement with Rabobank Hong Kong for the development of solar power plants in Japan.
The credit facility has a two-year maturity and will be used to finance the construction of an initial portfolio of up to 20 MWp of Canadian Solar's solar power pipeline in Japan.
Dr. Shawn Qu, Chairman and CEO of Canadian Solar, has commented:
"We are pleased to complete this credit facility to support the construction of our solar projects in Japan. This is the second construction loan we received from Rabobank, which further enhances our partnership in the global energy markets.
"Japan is a key market for us, and we are excited to build-out our solar power pipeline to support the launch of our planned Yieldco."
Rabobank's Head of Project Finance Asia, Amardeep Parmar, stated:
"Renewable energy is a focus sector for Rabobank. We are pleased to provide this construction facility to Canadian Solar, an existing client of Rabobank, and partner with them in their growth plans in Asia."
IPP Journal has recently been heavily reporting on Canadian Solar's endeavors: