Canadian Solar Inc.(the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, announced that Credit Suisse will provide the Company with an up to US$40 million, 1 year tenor loan. The loan will be used to finance Canadian Solar's previously announced acquisition of 4 solar projects in Ontario, Canada.
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said, "We continue to attract blue chip financial and construction partners across the entire project lifecycle. We believe this validates the value of Canadian Solar's global scale, proven track record, and both project expertise and quality. This sets us apart in the industry and is allowing us to accelerate the development of our already strong pipeline in Canada, the U.S. and worldwide."