Canadian Solar secures $60m for solar projects in Japan

Canadian Solar secures $60m for solar projects in Japan

Canadian Solar Inc. (NASDAQ:CSIQ) has announced it will receive US$60 million from Prudential Capital Group, which will be used to finance 21.2MW of solar projects in Japan. 

Shawn Qu, chairman and CEO of Canadian Solar Inc. said: “This is our inaugural green solar private placement with a blue chip institutional investor, and represents the second project bond financing structure executed by Canadian Solar in the Japanese market, further diversifying our funding mix.”

The company has had a consistent presence in Japan’s solar market, which has often secured financing from investors.

Canadian Solar secured $126 million in financing from the Royal Bank of Scotland and Deutsche Bank for 86MW worth of solar projects in Japan and the UK at the end of 2015.

@RGNOnline