The Chinese-Canadian solar group Canadian Solar Inc. has closed a £41.9 million ($56 million) non-recourse project finance facility with German bank BayernLB. According to the company, this financing arrangement is Canadian Solar's third solar power portfolio financing in the United Kingdom.
The solar power portfolio consists of 10 operating solar power plants totaling 52.2 MW. This financing deal follows on from the partnership with BayernLB to finance the first 40.2 MW portfolio last year, said Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.
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