Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Canadian Solar Gets $47 Million Loan for Ontario Plant

Don't Miss Out —
Follow us on:

Feb. 26 (Bloomberg) -- Canadian Solar Inc., the best-performing solar maker last year, received a C$52 million ($47 million) loan from Natixis SA for a power plant in Ontario.

The loan to build the 10-megawatt Glenarm project, which DIF Infra 3 RE Canada is acquiring, has a maturity term of construction plus 10 years, Guelph, Ontario-based Canadian Solar said today in a statement.

The Ontario Power Authority has agreed to a 20-year contract to purchase electricity from the solar farm, which is expected to be operational by the fourth quarter.

The shares rose 6.4 percent to $42.66 at the close in New York, the biggest climb in more than a month. Canadian Solar increased more than eightfold in 2013, the most in the 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