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.”