Canadian Solar Secures 12 Bln Yen Credit Facility From Deutsche Bank

(RTTNews) - Canadian Solar Inc. (CSIQ) said it has signed a financing agreement pursuant to which Deutsche Bank AG, Tokyo Branch has agreed to provide a 12.0 billion yen, or $97.2 million senior non-recourse project finance credit facility to Canadian Solar for the construction of the company's Kumamoto Mashiki solar power plant in Japan.

The 48 MWp Kumamoto Mashiki solar power plant is forecast to reach commercial operation in 2017 and will sell electricity to Kyushu Electric Power Co., Inc. under a 20 year feed-in-tariff contract at the rate of 36.0 yen or $0.30 per kWh.