Canadian Solar Gets $40 Million Loan for Japan Projects
Canadian Solar Inc. (CSIQ), North America’s biggest solar manufacturer, arranged to borrow $40 million from the Chinese structured finance fund Harvest North Star Capital to build 145 megawatts of power plants in Japan.
The first of three tranches will be disbursed this month, Guelph, Ontario-based Canadian Solar said today in a statement. About 40 megawatts to 50 megawatts of projects will start construction in the first half of next year.
Harvest North is a joint venture between Beijing-based Harvest Fund Management Co.’s Harvest Alternative Investments and a team led by Peter Tsao.
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