{"id":787,"date":"2021-08-02T13:00:37","date_gmt":"2021-08-02T04:00:37","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=787"},"modified":"2021-07-30T12:47:29","modified_gmt":"2021-07-30T03:47:29","slug":"canadian-solar-raises-us100-million-from-btg-pactual-and-itau-bba-to-support-execution-of-brazil-project-portfolio","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2021\/787.html","title":{"rendered":"CANADIAN SOLAR RAISES US$100 MILLION FROM BTG PACTUAL AND ITA\u00da BBA TO SUPPORT EXECUTION OF BRAZIL PROJECT PORTFOLIO"},"content":{"rendered":"

GUELPH, ON,\u00a0July 27, 2021\u00a0\/PRNewswire\/ —\u00a0Canadian Solar Inc.<\/a>\u00a0<\/span>(the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ) announced today that it has closed a\u00a0BRL 500 million\u00a0(approximately\u00a0US$100 million) financing facility with Brazilian banks BTG Pactual and Ita\u00fa BBA.<\/p>\n

 <\/p>\n

Canadian Solar\u00a0will use the financing facility\u00a0for the development and construction of solar projects in\u00a0Brazil, where\u00a0the Company has established a leadership position in the solar energy market. The facility will fund up to 70% of\u00a0Canadian Solar’s\u00a0equity contributions in a subset of its Brazilian project portfolio, a unique structure in the local market. \u00a0BTG Pactual and Ita\u00fa\u00a0BBA, two leading investment and commercial banks in\u00a0Brazil\u00a0and long-term\u00a0Canadian Solar\u00a0partners in\u00a0Latin America, are also financial advisors to the Company’s Brazilian portfolio.<\/p>\n

 <\/p>\n

Canadian Solar\u00a0has developed and contracted in federal, regional and private PPA auctions\u00a0 \u00a0nearly 3 GWp of solar projects in\u00a0Brazil. Of this, 480 MWp are in operation and have been sold to third parties, 483 MWp are under construction (with 80% interest already sold), and an additional 2 GWp are under development with PPA contracts.\u00a0Canadian Solar’s\u00a0portfolio in\u00a0Brazil\u00a0is the largest in the market and the financing facility will support the plan to establish a publicly listed vehicle (FIP-IE) with operating projects, depending on market conditions, while providing flexibility on the timing of monetizing projects.<\/p>\n

 <\/p>\n

Dr.\u00a0Shawn Qu, Chairman and Chief Executive Officer of\u00a0Canadian Solar\u00a0commented, “We are grateful and pleased to collaborate again with BTG Pactual and Ita\u00fa BBA to finance the development and construction of more solar assets in\u00a0Brazil. With this facility, we can further leverage our equity contribution to build projects in\u00a0Brazil\u00a0and monetize them post-COD at attractive valuation, while maintaining the option to retain meaningful long-term ownership. We look forward to executing on our large backlog and pipeline of solar projects in\u00a0Brazil\u00a0and supporting the country’s renewable power and energy security goals.”<\/p>\n

 <\/p>\n

About BTG Pactual<\/h4>\n

BTG Pactual (BPAC11) is the largest investment bank in\u00a0Latin America, operating in Investment Banking, Corporate Lending,\u00a0Sales & Trading, Wealth Management and Asset Management. Since inception in 1983, the Bank has been operating based on a meritocratic partnership culture, focused on clients, excellence and a long-term vision. It has cemented its status as one of the most innovative sector players and has won numerous national and international awards. Currently, it has close to 4,000 employees in offices across\u00a0Brazil,\u00a0Chile,\u00a0Argentina,\u00a0Colombia,\u00a0Peru,\u00a0Mexico, the\u00a0U.S.,\u00a0Portugal\u00a0and\u00a0England. For more information go to\u00a0<\/span>http:\/\/www.btgpactual.com<\/span><\/a>.<\/p>\n

 <\/p>\n

About Ita\u00fa BBA<\/h4>\n

Itau BBA\u00a0is one of the leading investment banks in\u00a0Brazil\u00a0with services ranging from financial advisory, local and international capital markets, mergers and acquisitions, derivatives and credit facilities. Ita\u00fa BBA is listed on the B3\/S\u00e3o\u00a0Paulo stock exchange\u00a0and has\u00a0BRL 994 billion\u00a0assets under management and a\u00a0BRL 260 billion\u00a0credit portfolio in\u00a0Brazil, as of\u00a0March 2021. Ita\u00fa BBA is part of Ita\u00fa\u00a0Unibanco Group, which is the largest private bank in\u00a0Brazil, the largest financial institution in\u00a0Latin America\u00a0and one of the largest in the world. For the 16th consecutive year, Ita\u00fa Unibanco was considered the most valuable brand in\u00a0Brazil\u00a0according to the Interbrand Ranking.<\/p>\n","protected":false},"excerpt":{"rendered":"

GUELPH, ON,\u00a0July 27, 2021\u00a0\/PRNewswire\/ —\u00a0Canadian Solar Inc.\u00a0(the “Company”, or “Canad […]<\/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-787","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\/787","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=787"}],"version-history":[{"count":1,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/787\/revisions"}],"predecessor-version":[{"id":788,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/787\/revisions\/788"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}