Canadian Solar Gets Loan From Deutsche Bank to Build Solar Farms

Canadian Solar Inc. (CSIQ), North America’s biggest solar manufacturer, secured a C$104 million ($99 million) loan from Deutsche Bank AG to build three solar farms in Canada.

The non-recourse, construction financing will fund the 30 megawatts of projects that are expected to be built and connected in Ontario through 2014, the Guelph, Ontario-based company said today in a statement.

The projects will sell electricity to the Ontario Power Authority under 20-year contracts, Canadian Solar said. The company got a C$139 million loan from the bank last year.

To contact Bloomberg News staff for this story: Feifei Shen in Beijing at fshen11@bloomberg.net

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.