Canadian Solar Completes 61 MWp Solar Portfolio Sale in Japan and Deepens Partnership with Canadian Solar Infrastructure Fund
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GUELPH, ON, March 8, 2021 /PRNewswire/ Canadian Solar Inc. (the Company , or Canadian Solar ) (NASDAQ: CSIQ) announced today that it has completed the sale of two operational projects totaling 61 MWp to Canadian Solar Infrastructure Fund ( CSIF , TSE: 9284) for JPY 30.6 billion (approximately US$283 million).
To finance the acquisition of the 53 MWp Oita Hiji-machi and 8 MWp Miyagi Ogawara projects, CSIF recently completed an international public offering and raised over JPY 18 billion (US$166 million) on the Tokyo Stock Exchange. Canadian Solar participated in this transaction and continues to own approximately 15% of CSIF. Additionally, CSIF issued over JPY 19 billion (US$175 million) of long-term debt to maintain its capital structure. These transactions affirmed CSIF as one of the largest li
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Canadian Solar partners with Macquarie for Japanese PV push
Image: Canadian Solar.
Canadian Solar has raised JPY22 billion (US$208 million) for its Japan Green Infrastructure Fund (JGIF), which will develop and accumulate solar projects in the Asian country.
The company will hold a 67% stake in the fund, while infrastructure investor Macquarie Group will have a 33% interest and act as financial advisor.
JGIF is expected to grant first offer rights to the Canadian Solar Infrastructure Fund, a Japanese-listed infrastructure fund holding solar assets managed by Canadian Solar’s asset management subsidiary.
Shawn Qu, CEO of Canadian Solar, said: “JGIF’s more dedicated capital pool will further boost our competitiveness in developing clean, sustainable and high-quality solar energy projects in Japan.”