Canadian Solar Inc. has signed a US$250 million loan agreement with China Minsheng Bank to fund the acquisition of Recurrent Energy and the construction of solar projects in the US.
The loan facility has a three-year maturity. “Our ability to get support from both international and Chinese financial institutions is a testament to Canadian Solar’s position as a global leader in the utility-scale solar energy business,” said Shawn Qu, Chairman and Executive Officer of Canadian Solar. “We look forward to continuing our cooperation with Minsheng Bank and other financial institutions to fund our profitable growth.”