Funding raised for Japanese solar power plant



 

Canadian Solar, one of the world’s largest solar power companies, recently announced completion of its second green project bond placement with Goldman Sachs Japan. The ¥5,4-billion (US$47-million) innovative dual-tenor green project bond was issued to finance Canadian Solar’s 19,05 MW Gunma Aramaki solar power plant in Gunma Prefecture, Japan. The Gunma Aramaki green project bond is the first of its kind with dual-tenor maturity of 1,5 years and 20,3 years, representing the initial and extended tenor respectively, within a single-tranche of bond. This innovative tenor mechanism provides Canadian Solar with options to maximise the value of its investment while preserving long-term financing support for its solar power project. The Gunma Aramaki Solar Power Plant is expected to reach commercial operations in December 2017. The electricity generated from this solar power plant will be purchased by the Tokyo Electric Power Co (TEPCO) under a 20-year feed-in-tariff contract at the rate of ¥36 ($0,32) per kWh.

Contact Trevor de Vries, Canadian Solar, Tel 082 424-4530, trevor.devries@canadiansolar.com

 

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