Canadian Solar has secured financing for the 92MW IS-42 solar project in North Carolina.
Prudential Capital Group will provide a $97m debt facility, including tax equity bridge, term and revolving loans.
US Bancorp Community Development Corp will also make a tax equity investment in the project under a separate agreement.
The project will cover an area of approximately 450 acres in the Bladen and Cumberland counties of the US state and is currently under construction.
It is expected to reach commercial operation in the third quarter of this year.
IS-42 has a long-term power purchase agreement with Duke Energy Progress.
CohnReznick Capital Markets Securities acted as financial advisor to Canadian Solar on the transaction.
Image: Morgue File
Canadians close Carolina PV cash
Debt and equity financing sealed for the 92MW IS-42 solar project
By EBS