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Canadian Solar to Receive $32.9 Million Loan for Ontario Project

Dec. 2 (Bloomberg) -- Canadian Solar Inc., the best-performing solar manufacturer this year, arranged to borrow as much as C$35 million ($32.9 million) to build a power plant in Ontario.

National Bank of Canada is providing the short-term construction financing, Guelph, Ontario-based Canadian Solar said today in a statement. Terms of the deal and details on the planned solar farm weren’t disclosed.

Canadian Solar has increased more than eightfold this year, the most in the 15-member Bloomberg Industries Global Large Solar Energy Index.

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

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

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