Canadian Solar gets $141.5m financing for 55MWp solar power plant in Japan

It's the firm's largest investment in the country.

Canadian Solar Inc. announced that it has closed US$141.5m (JPY14.9b) senior and subordinate non-recourse term loan facilities to finance the construction and operation of a 55 MWp solar power plant in the Yamaguchi prefecture, Japan.

The facilities were arranged by Hanwha Asset Management and have a maturity of 17 years.

"We are pleased to close the project finance facilities with Hanwha Asset Management and commence construction of the Yamaguchi Shin Mine project. This is our largest investment in Japan to date and represents a significant milestone in the build-out of our solar power pipeline," commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.

Canadian Solar currenlty has 597 MWp of utility scale projects in late-stage development in Japan.