Canadian Solar gets R$487 million financing for solar power projects

By Sarah Lizee

Olympia, Wash., Aug. 28 – Canadian Solar Inc. secured R$487 million non-recourse project financing from Banco do Nordeste do Brasil SA for its Francisco Sa and Jaiba solar power projects, according to a press release.

Since the start of 2019, Canadian Solar has secured R$782 million of solar project financing with Banco do Nordeste.

The 114.3 MWp Francisco Sa and 112.4 MWp Jaiba projects will be funded over 23 years across the construction and operation phases of the projects. The inflation-linked debt tied to the National Consumer Price index will provide improved capital and resource alignment with the Brazilian economy, Canadian Solar said.

The solar power company is based in Guelph, Ont.

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