Canadian Solar Increases Global Guarantee Facility from Export Development Canada to US$125 Million
GUELPH, Ontario, Sept. 13, 2018 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced it has closed a $125 million global guarantee facility with Export Development Canada ("EDC"), Canada's export credit agency. The facility was increased to US$125 million from US$100 million, and will support existing and future project development activities undertaken by Canadian Solar across North America, Latin America, Europe, Asia and Australia.
Under the global facility, EDC will provide Performance Security Guarantees for up to US$125 million to cover credit exposure of Royal Bank of Canada and China Construction Bank Corporation on letters of credit and letters of guarantee issued on behalf of Canadian Solar.
"We highly value our relationship with EDC as we continue to promote clean, reliable and emission-free solar energy worldwide. This represents the fourth consecutive year of financial support from EDC, testament to our leading position in the global solar industry," commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, "This expanded global facility provides us with a flexible capital source and enhances our capacity and competitiveness across multiple solar development opportunities."
About Canadian Solar Inc.
Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 17 years, Canadian Solar has successfully delivered over 29 GW of premium quality modules to over 100 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.
CONTACT: Mary Ma, Manager, Investor Relations,Canadian Solar Inc., investor@canadiansolar.com; David Pasquale, Global IR Partners,+1-914-337-8801, csiq@globalirpartners.com
