Canadian Solar Gets $60 Mln Green Solar Financing In Japan - Quick Facts

(RTTNews) - Canadian Solar Inc. (CSIQ), a solar power company, announced Monday that it has secured 6.2 billion Japanese yen green solar financing in Japan.

The company said it has entered into a private placement with Prudential Capital Group, pursuant to which, the global investment management business of Prudential Financial, Inc. has agreed to purchase non-recourse notes with principal amount totaling approximately 6.2 billion yen or $60 million.

The proceeds from the private placement will be used to finance a portfolio of environmentally-friendly solar power plants totaling 21.2MWp in Japan.

Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said, "This is our inaugural green solar private placement with a blue chip institutional investor, and represents the second project bond financing structure executed by Canadian Solar in the Japanese market, further diversifying our funding mix."