Canadian Solar Inc. has signed an agreement with the Suzhou (China) New District Suzhou Municipal Government to fund local solar projects. The Suzhou New District Government has agreed to provide RMB 7.5 million in matching funds in conjunction with the subsidies provided by China's Ministry of Finance and Ministry of Constructions for building PV installations.
These monies will be used to exclusively support solar projects undertaken by Canadian Solar in Suzhou New District. Other sources of project debt or equity will be arranged by the company or by the project owners.
SOURCE: Canadian Solar Inc.