Canadian Solar Projects K.K. has expanded and renewed its credit facility with a syndicate of four finance leasing institutions led by Sumitomo Mitsui Finance and Leasing.
The facility has been increased from JPY 4 billion ($36 million) to JPY 5.35 billion ($48 million) and will mature in March 2022. The company intends to utilize the facility to develop more high-quality solar power projects in Japan.
Dr. Shawn Qu, chairman and CEO of Canadian Solar, said, “Since 2018, as a testament to Canadian Solar’s deep operating experience and credit strength, we have successfully raised JPY 16 billion ($145 million) of flexible capital sources at favorable rates from our relationship Japanese lenders. We value the ongoing support of SMFL and our syndicate group of finance leasing institutions.”
Canadian Solar was founded in 2001 in Canada and is a manufacturer of solar photovoltaic modules and provider of solar energy solutions and has a geographically diversified pipeline of utility-scale power projects in various stages of development.
