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Canadian Solar Inc to receive C$115.5 million loan from National Bank of Canada and receives contract through different projects

Friday, 2 May 2014 05:00am EDT 

Canadian Solar Inc:Says that National Bank of Canada will provide company with C$115.5 mln, in short-term construction financing.Credit facility will be used to support construction of three solar power projects in Ontario, Canada, totaling 30 MWac.Three solar power projects are Sparkle Light (Beaverton), Good Light (Kawartha Lakes) and Lunar Light (Belleville) have all been awarded 20-year power purchase contract by Ontario Power Authority under Ontario's Feed-In-Tariff Program.Sparkle Light and Good Light are already in construction and construction of Lunar Light is planned to commence in July 2014.Loans are expected to be repaid with the proceeds of the sale of the respective financed projects. 

Company Quote

10 Jun 2015