Canadian Solar Secures $100M Loan For Ontario Plants

Law360, Los Angeles (October 30, 2013, 8:04 PM EDT) -- Canadian Solar Inc. announced on Wednesday that it has entered into an agreement with Deutsche Bank AG for a loan of CA$104 million (US$99 million) to finance several solar power projects in Ontario.

Deutsche Bank has agreed to provide Canadian Solar $99 million in nonrecourse, short-term construction financing for the construction of three solar plants that will total 30 megawatts, the solar company said Wednesday. The plants are expected to be built and connected to the grid in 2014.

"The support of global financial institutions, like Deutsche Bank, allows us to expand our...
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