Panasonic Eco Solutions Canada is working together with PNC Equipment Finance, a division of the PNC Bank Canada Branch in order to provide a new financing platform for PV plants as small as 500kW in Ontario, Canada.
The platform will revolve around PNC Equipment Finance offering long-term debt solutions, while Panasonic’s design, procurement and construction services will help both companies offer operations and maintenance (O&M) for PV installations. The financial solution will be utilised by small to mid-size developers with projects starting as small as 500kW.
Walter Buzzelli, managing director at Panasonic Eco Solutions Canada, said: “One of the biggest challenges we have seen in developing smaller to mid-size solar PV projects is securing competitive long-term debt financing for long-term assets like solar installations. Panasonic and PNC Equipment Finance help potential projects and system owners that are usually overlooked by offering this unique financing platform, which will allow more projects to see the light of day.”
Under the Panasonic program, PNC Equipment Finance has the means to offer long-term debt for as much as 100% of the costs associated with projects.
Bruce Schruder, vice president and senior account executive for PNC Bank Canada Branch’s equipment finance group, added: “This collaboration with Panasonic leverages our experience in energy services and flexible project financing. We provide our Canadian customers the financial support to reach their organization’s environmental goals.”