Tier-one module manufacturer and project developer Canadian Solar has agreed a US$250 million loan with China Minsheng Bank.
The three-year loan will be used partly to fund the company’s US$265 million acquisition of Recurrent Energy and to fund the construction of utility-scale solar projects in the US.
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Canadian Solar chairman and CEO Shawn Qu said the company would continue to look its cooperation with Minsheng and other financial institutions “to fund profitable growth”.
Canadian Solar is expected to launch its yieldco as soon as Q4 this year.
Minsheng has previously provided finance for Jinko Solar, SPI, Shunfeng and Hanergy.