{"id":770,"date":"2021-07-01T09:00:09","date_gmt":"2021-07-01T00:00:09","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=770"},"modified":"2021-06-30T15:27:33","modified_gmt":"2021-06-30T06:27:33","slug":"canadian-solar-secures-eur-50-million-from-santander-to-support-growth-in-project-development-in-emea","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2021\/770.html","title":{"rendered":"CANADIAN SOLAR SECURES EUR 50 MILLION FROM SANTANDER TO SUPPORT GROWTH IN PROJECT DEVELOPMENT IN EMEA"},"content":{"rendered":"

GUELPH, Ontario,\u00a0June 24, 2021\u00a0\/PRNewswire\/ —\u00a0Canadian Solar Inc.<\/a><\/span>\u00a0(the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ) announced today\u00a0that it has secured a \u20ac50 million bilateral corporate facility with Banco Santander, S.A. (“Santander”). The facility will support growth at\u00a0Canadian Solar’s\u00a0Global Energy business as it executes and expands on its project development pipeline in the\u00a0Europe,\u00a0Middle East\u00a0and\u00a0Africa, or EMEA region, and further diversifies the Company’s sources of financing.<\/p>\n

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This is the second facility between\u00a0Canadian Solar’s\u00a0European subsidiary and Santander over the past year which demonstrates Santander’s trust on the Company’s regional strategy and ability to execute on its business plan. It also demonstrates\u00a0Canadian Solar’s\u00a0strong bankability in the global solar market, built on its 20-year track record of strong product performance and experience in solar project development.<\/p>\n

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The new facility is composed of a term loan and a revolving credit facility of equal amounts. This structure provides\u00a0Canadian Solar\u00a0a highly flexible financial instrument to execute growth plans as well as manage short term cash needs at favorable terms.<\/p>\n

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“The EMEA region is going through a significant acceleration in deployment of solar PV and it is one of the key pillars of growth of our Global Energy business. We will continue to execute on our project development business, while expanding our presence in areas such as operations and maintenance, asset management, battery storage and energy trading. Partnering with Santander, we will to continue our efforts in building a sustainable business model and contributing to the global response to climate change,” said\u00a0<\/strong>Dr.\u00a0Shawn Qu, Chairman and CEO of\u00a0Canadian Solar.<\/p>\n

 <\/p>\n

He added, “We are well positioned to expand our role as a full global solar operator, adding\u00a0and capturing value throughout the full project lifecycle. We hope to expand our partnership with Santander as we further strengthen our leadership position in the global renewable energy market, contributing to advance the Paris Agreement goals for a drastic reduction of carbon emissions by 2030.”<\/p>\n

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As of the first quarter of 2021,\u00a0Canadian Solar\u00a0has a total global solar PV project pipeline of 21 GWp, of which nearly 4 GWp is in EMEA, specifically in\u00a0Italy,\u00a0Spain, the\u00a0U.K.,\u00a0France,\u00a0Poland,\u00a0Netherlands,\u00a0Israel\u00a0and\u00a0South Africa. The Company has offices fully dedicated to project development in\u00a0Madrid,\u00a0Milan,\u00a0London\u00a0and\u00a0Warsaw. The Company is also strategically positioning itself as one of the main energy storage players in the world, with a global pipeline of nearly 17 GWh, of which more that 1 GWh of storage projects are in EMEA.<\/p>\n","protected":false},"excerpt":{"rendered":"

GUELPH, Ontario,\u00a0June 24, 2021\u00a0\/PRNewswire\/ —\u00a0Canadian Solar Inc.\u00a0(the “Company”, or “ […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-770","post","type-post","status-publish","format-standard","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/comments?post=770"}],"version-history":[{"count":1,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/770\/revisions"}],"predecessor-version":[{"id":771,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/770\/revisions\/771"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}