Canadian Solar secures financing to invest in solar development in Italy

Canadian Solar has secured a Euro 55 million bilateral revolving credit facility with IntesaSanpaolo to fund the construction of a 151 MW portfolio of solar projects in Italy, located across different municipalities in Sicily, Apulia and Lazio. This portfolio of 12 projects will be subsidy-free utility-scale solar projects. These projects will be built using Canadian Solar HiKu CS3W-425 modules and its engineering, procurement and construction capabilities. Once operational, these projects are expected to generate approximately 287 GWh of solar power per year, equivalent to the annual electricity consumption of 57,331 people, while contributing to displacing 73,384 tonnes of carbon dioxide per year.

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