The average price of solar-grade polysilicon has dropped from the peak of RMB240,000-250,000/tonne (US$32,856-34,191) at the beginning of the year to RMB70,000-90,000/tonne.
Canadian Solar says the private placement provided the company with enhanced liquidity and flexible funds to grow its subsidiary Recurrent Energy's global business.
The Asia Pacific (APAC) region is expected to invest US$3.3 trillion in power generation over the next decade, of which a quarter for solar alone, according to energy research company Wood Mackenzie.