Canadian Solar Inc. (CSIQ), North America's biggest solar manufacturer, secured a C$104 million ($99 million) loan from Deutsche Bank AG to build three solar farms in Canada.
The non-recourse, construction financing will fund the 30 megawatts of projects that are expected to be built and connected in Ontario through 2014, the Guelph, Ontario-based company said today in a statement.
The projects will sell electricity to the Ontario Power Authority under 20-year contracts, Canadian Solar said. The company got a C$139 million loan from the bank last year.
To contact Bloomberg News staff for this story: Feifei Shen in Beijing at fshen11@bloomberg.net
To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net
