Export Development Canada (EDC) has agreed to provide credit guarantees of up to US$100m to Canadian Solar to support the company’s global project development.
Royal Bank of Canada and Toronto Branch of China Construction Bank Corporation will serve as fronting banks on the facility.
Canadian Solar chairman and chief executive Shawn Qu said: “With EDC’s backing, we are able to improve our financial flexibility on our capital allocation to new solar projects.
“We value our strategic partnership with EDC as we continue to deliver on our commitment to accelerating the deployment of clean, reliable, emission-free solar energy worldwide.”
Image: Canadian Solar
