Canadian Solar Secures $100M Financing Deal From EDC

Posted by Joseph Bebon on September 21, 2016 No Comments
Categories : FYI

Canadian Solar Inc. has signed a financing agreement with Export Development Canada (EDC), which has agreed to provide guarantees or letters of credit of up to $100 million to the solar company to support its global activities of project development. Royal Bank of Canada and Toronto Branch of China Construction Bank Corp. will serve as fronting banks on the facility.

“We are very pleased to work with EDC to execute on our global solar power business strategy. With EDC’s backing, we are able to improve our financial flexibility on our capital allocation to new solar projects,” commented Dr. Shawn Qu, vhairman and CEO of Canadian Solar.

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