Canadian Solar Finishes 61 MWp Solar Portfolio Sale in Japan
- Canadian Solar Inc. revealed today that it has actually completed the sale of 2 functional projects completing 61 MWp to Canadian Solar Infrastructure Fund for JPY 30.6 billion (about US$ 283 million).
To finance the purchase of the 53 MWp Oita Hiji-machi and 8 MWp Miyagi Ogawara projects, CSIF recently finished an international public offering as well as elevated over JPY 18 billion (US$ 166 million) on the Tokyo Stock Exchange.
Canadian Solar participated in this purchase and continues to own roughly 15% of CSIF. Additionally, CSIF released over JPY 19 billion (US$ 175 million) of lasting financial debt to maintain its funding framework. These transactions attested CSIF as one of the biggest noted framework funds in Japan with over JPY 80 billion (US$ 740 million) of operational solar properties under monitoring.
" I delight in to report that we have gone beyond $1 billion of possession sales in the Japanese solar market, helped by considerable growth in the Canadian Solar Facilities Fund which Canadian Solar continues to sponsor both as the asset supervisor as well as the biggest capitalist.
Given that CSIF's listing in October 2017, it has grown over 2.5 times as well as now has 25 solar energy plants amounting to 184 MWp across Japan.
A few weeks earlier, we likewise launched the Japan Green Infrastructure Fund to increase the growth of brand-new solar projects in the country.
We are really delighted about the growth opportunities in this market," commented Dr. Shawn Qu, Chairman as well as CEO of Canadian Solar.
He added, "The higher scale and also broadened capital base will help our solar fund systems to pursue attractive financial investment possibilities. We see substantial potential customers to increase shareholders' returns with comparable capital partnership systems where we have protected gigawatt-scale pipelines, especially in Latin America and Europe."
