Canadian Solar, Sichuan Plan $810 Million Solar FundEhren Goossens
Canadian Solar Inc., the third-best performing solar panel maker in the past year, and the investment arm of China’s Sichuan province will create a 5 billion yuan ($810 million) fund to build solar projects.
Sichuan Development Holding Co., Canadian Solar and third party investors will raise the funding, Guelph, Ontario-based Canadian Solar said today in a statement.
The fund will focus on building large-scale and rooftop solar projects in Sichuan and other areas, Canadian Solar Chief Executive Officer Shawn Qu said in the statement.
Canadian Solar rose 4.3 percent to $40.24 at 9:46 a.m. in New York. The company gained the most in more than two years Aug. 13 after reporting record earnings and shipments.