Canadian Solar raises US$95 million for PV projects in Japan

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Canadian Solar has a PV project pipeline in Japan of around 576MW, currently spread over the next six years with 112MW under construction at various stages. Image: Canadian Solar

‘Silicon Module Super League’ (SMSL) member Canadian Solar has secured a syndicated 3- year loan facility for JPY9.6 billion (US$95 million) for planned PV projects in Japan.

The syndicated loan was led by Sumitomo Mitsui Banking Corporation and included a total of 13 financial institutions.

Canadian Solar has a PV project pipeline in Japan of around 576MW, currently spread over the next six years with 112MW under construction at various stages. 

Japan is regarded by the company as a bright spot for PV projects and is planning to retain the majority of its completed Japanese projects in a business trust or REIT (Real Estate Investment Trust), due to attractive long-term tax benefits.

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