Canadian Solar secures $100 million to fund solar projects in Brazil

Canadian Solar has received $100 million in financing from two Brazilian banks for the development of solar projects in Brazil. The financing arrangement with the banks-BTG Pactual and Itau BBA-will be up to 70 per cent of Canadian Solar’s equity commitments in the Brazilian project portfolio. The company can use this financing facility to leverage its equity contributions to build projects in Brazil and monetise them after the commercial operation date, while still retaining long-term ownership.

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