Canadian Solar Inc. today announced it has signed a financing agreement pursuant to which Royal Bank of Scotland ("RBS") has agreed to provide a GBP19.2 million ($29.0 million) term loan to Canadian Solar for the construction of seven solar power plants with a total installed capacity of 38MW in the United Kingdom.
"We are pleased to announce the term loan facility with RBS that will support the construction of seven solar systems and expand our fleet of solar plants in the UK by 38MW, to 78MW," said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. "We are also pleased with the execution of our Energy business plan across all of our key markets as we continue to successfully develop, finance and build high quality solar energy assets in low risk geographies."