Canadian Solar gets $125 million global guarantee facility via EDC

By Marisa Wong

Morgantown, W.Va., Sept. 13 – Canadian Solar Inc. said it closed a $125 million global guarantee facility with Export Development Canada.

The facility was increased to $125 million from $100 million and will support the company’s existing and future project development activities across North America, Latin America, Europe, Asia and Australia, according to a press release.

Under the facility, EDC will provide performance security guarantees for up to $125 million to cover credit exposure of Royal Bank of Canada and China Construction Bank Corp. on letters of credit and letters of guarantee issued on behalf of Canadian Solar.

The solar power company is based in Guelph, Ont.

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