Canadian Solar Gets $44.1 Million Loan for 10-Megawatt Project

(Bloomberg) — Canadian Solar Inc., the third-largest maker
of photovoltaic panels, arranged loans of as much as C$53.5
million ($44.1 million) for a 10-megawatt solar farm in Ontario.

The non-recourse construction loan for the Illumination
solar farm in Scugog was provided by Natixis SA, Norddeutsche
Landesbank Girozentrale and Cooperative Centrale Raiffeisen-Boerenleenbank BA, the Guelph, Ontario-based solar producer said
in a statement Monday. Terms weren’t disclosed.

The DIF Infrastructure III fund is buying the project,
which will sell power to the Ontario Power Authority under a 20-year contract.

Trina Solar Ltd. and Yingli Green Energy Holding Co. were
the largest solar-panel producers by shipments last year.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Will Wade

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