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Canadian Solar to receive C$115.5 mn loan from canadian bank

Guelph, Canada

The three solar power projects "Sparkle Light" (Beaverton), "Good Light" (Kawartha Lakes) and "Lunar Light" (Belleville) have all been awarded a 20-year power purchase contract by the Ontario Power Authority under Ontario's Feed-In-Tariff Program. "Sparkle Light" and "Good Light" are already in construction and the construction of "Lunar Light" is planned to commence in July 2014. The loans are expected to be repaid with the proceeds of the sale of the respective financed projects.

"We appreciate the continued support of the National Bank of Canada. This is the second construction loan package the bank has provided to Canadian Solar, further demonstrating our bankability, high project quality, and successful track record," said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc.

Canadian Solar was founded in 2001 in and is one of the world's largest solar power companies. As a vertically integrated provider of solar modules and solar power plants with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia, Canadian Solar has delivered more than 6 GW of solar modules to customers in over 70 countries.



Source: IWR Online, 02 May 2014

 


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