Construction financing agreement signed for solar power plants in Ontario

May 3, 2012

Canadian Solar Inc., the Bank of China, and the Bank of China, New York Branch, said they have signed a financing agreement to provide a C$120 million ($121.9 million) construction loan facility for solar power plants in Ontario, Canada.

The loan facility will be used to support the construction of solar power projects owned by Canadian Solar and which are expected to be built during 2012, 2013, and into 2014.

Canadian Solar said it continues to source new banking partners to finance its Ontario and its global pipelines and initiatives.

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