Panasonic Eco Solutions Canada Inc. has partnered with PNC Equipment Finance, a part of PNC Financial Services Group Inc., to offer a financing platform for solar photovoltaic projects of at least 500 kW in Ontario, Canada.
The financing platform allows PNC Equipment Finance to provide long-term debt programs in conjunction with Panasonic's project development; engineering, procurement and construction; and operations and maintenance services. The platform also enables PNC Equipment Finance to use Panasonic's solar production guarantee and credit rating to secure long-term debt.
‘One of the biggest challenges we have seen in developing smaller to midsize solar PV projects is securing competitive long-term debt financing for long-term assets like solar installations,’ says Walter Buzzelli, managing director of Panasonic Eco Solutions Canada. ‘Panasonic and PNC Equipment Finance help potential projects and system owners that are usually overlooked.’
