(Bloomberg) — Renewable Energy Trust Capital, a clean-energy financing provider, is borrowing C$66 million ($54
million) to help fund its acquisition of a 14.1-megawatt
Canadian Solar Inc. power plant in Ontario.
RET Capital didn’t provide terms for the non-recourse debt
facility in a statement Thursday. It agreed to buy the
CityLights solar farm in Chesterville in April, the San
Francisco-based company’s third acquisition of a solar farm
developed by Canadian Solar.
Electricity from all three solar farms is being sold to the
Independent Electricity System Operator, Ontario’s largest power
provider, under a 20-year contract.
Trina Solar Ltd. and Yingli Green Energy Holding Co. were
the largest solar-panel producers by shipments last year.
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Will Wade, Robin Saponar