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Canadian Solar raises US$70 million to build module assembly plant in Vietnam

The major SMSL has still not publically provided timelines or plant locations for the expansions in new countries.

The second-largest Silicon Module Super League (SMSL) member, Canadian Solar, has secured US$70 million in loans and equity investment from the International Finance Corporation to support its previously announced plans to establish a 300MW module assembly plant in Vietnam and production plants elsewhere, such as Brazil.

Canadian Solar had previously announced it would allocate around US$401 million in capital expenditures through the end of 2016 to significantly increase in-house wafer, cell and module production capacity and locate new plants in multiple countries, including 300MW in Vietnam, 30MW in Indonesia, 300MW in Brazil and 400MW in Southeast Asia.

However, the major SMSL member has still not publicly provided timelines or plant locations for the expansions in new countries.

Tags: c-si manufacturing, pv modules, canadian solar

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