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Canadian Solar Gets Loan From Deutsche Bank to Build Solar Farms

Canadian Solar Inc., 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.

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