‘Silicon Module Super League’ (SMSL) member Canadian Solar has secured US$66.0 million in project financing in its second green project bond placement with Goldman Sachs Japan.
The SMSL noted that the financing was for its 27.3MWp Tottori Solar Power Plant in Tottori Prefecture, Japan, which was completed and started commercial operations in August 2017, under a 20-year feed-in-tariff contract at the rate of JPY40.0 (US$0.36) per kWh agreement with Chugoku Electric Power Company.
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The Japan Credit Rating Agency (JCR) assigned the Tottori project an investment grade rating of ‘A’, said to be the fourth project by Canadian Solar in Japan to receive that rating and in line with the highest ratings reported in the Japan PV sector, according to the company.
The SMSL recently floated the Canadian Solar Infrastructure Fund in Japan with 13 operating PV power plants with a total installed capacity of 72.7MW, which generated approximately US$270 million in proceeds.