Canadian Solar secures US$210 million loan for Thailand facility
The facility will provide exports to North America, according to Canadian Solar President & CEO Shawn Qu, whilst creating local employment in the eastern Thai province of Chonburi.
The Chinese Tier 1 PV manufacturer is likely to be one of the hardest hit by new import duty rates applied to imports to the U.S. from China. Modules produced at facilities outside of China however, will not be affected.
SCB is the third largest lender in Thailand by assets, and plans to double its lending to Chinese investors, which currently stands at THB 15 billion (US$ 423 million), over the next three years.
Canadian Solar has secured finance for several other projects worldwide in recent months, including GBP 49.3 million (US$59 million) to develop projects in the UK, and JPY 9.6 billion (US$95 million) from a Japanese syndicate to fund projects in Japan.
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[…] Chinese-Canadian firm Canadian Solar has secured $210 million in loans to build a PV production plant in eastern Thailand. Most of the facility’s product will […]
[…] Chinese-Canadian firm Canadian Solar has secured $210 million in loans to build a PV production plant in eastern Thailand. Most of the facility’s product will […]
[…] modules made in China have been shipped to the U.S.; the company instead supplying the market via its Southeast Asia facility. “Results for the fourth and full quarter of 2016 were in line with our expectations, other than […]
[…] Canadian Solar secures $210M loan for Thailand facility from Siam Commercial Bank and China Minsheng Bank. Link […]
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