Canadian Solar closes £36.4 million solar project refinancing with BayernLB

Canadian Solar Inc. has announced that it has closed a £36.4 million ($52 million) project financing facility with BayernLB to refinance a portfolio of four solar power plants, totaling 40.2 MW in the U.K.

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    This financing facility with BayernLB is non-recourse project finance, with a term of 17 years.

    "We are delighted to complete this project financing facility with BayernLB," said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. "This facility underscores Canadian Solar's strength as a global tier-1 player that has broad support from international financial institutions. We look forward to continuing our partnership with BayernLB to support the sustainable growth of our global project business."