Canadian Solar Japan, a subsidiary of Canadian Solar, has entered into a$39.5 million syndicated loan agreement with Mizuho Bank acting as book runner.

Mizuho Bank, together with Shoko Chukin Bank and Tokyo Star Bank, will provide the loan which has a one-year term with an option for a one-year extension.

“We are delighted to partner with this leading group, which enables us to execute on our business strategy and capture the growing business opportunities in Japan,” said Dr. Shawn Qu, chairman and chief executive officer of Canadian Solar.

“This partnership once again demonstrates Canadian Solar’s strength and recognition as the global tier-1 leader that is able to get local financing from large banks in Japan. We look forward to continuing the cooperation with Mizuho Bank,” Qu said.