Canadian Solar partners with Macquarie for Japanese PV push

Feb 17, 2021 04:53 PM ET
  • Canadian Solar has elevated JPY22 billion (US$ 208 million) for its Japan Environment-friendly Framework Fund (JGIF), which will certainly develop and also collect solar projects in the Oriental country.
Canadian Solar partners with Macquarie for Japanese PV push
Image: Canadian Solar

The company will hold a 67% stake in the fund, while facilities capitalist Macquarie Group will have a 33% interest and also work as financial consultant.

JGIF is expected to approve initial offer legal rights to the Canadian Solar Framework Fund, a Japanese-listed facilities fund holding solar possessions handled by Canadian Solar's property management subsidiary.

Shawn Qu, Chief Executive Officer of Canadian Solar, said: "JGIF's more dedicated resources swimming pool will certainly further improve our competition in creating tidy, sustainable as well as top notch solar power projects in Japan."

He included that Canadian Solar remains in the procedure of planning comparable localised funding partnerships in various other parts of the globe, including in Latin America and also Europe, to help accelerate its global project growth platform.

For Macquarie Group, the statement comes days after the company disclosed it raised more than EUR1.6 billion in its Macquarie Green Investment Renewable Energy Fund 2 (MGREF2) funding round, surpassing its EUR1 billion target.

MGREF2 is a 25-year fund that will invest in solar as well as wind projects in markets such as Japan, Western Europe, the US, Canada, Mexico, Taiwan, Australia as well as New Zealand.

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