Canadian Solar Inc. says Manufacturer's Life Insurance Co. has agreed to provide approximately $46 million in construction and term financing to Canadian Solar for the RayLight solar power plant in Wyebridge, Ontario.
The RayLight project will be acquired by Concord Green Energy Inc. after commercial operation. BowMont Capital and Advisory acted as the financial advisor to Concord.
Developed by Canadian Solar, the 10 MW RayLight solar power plant is currently under construction. The company expects the project to be connected to the grid during the fourth quarter.