Investec Bank arranges the refinancing of a 40 MW Canadian Solar UK portfolio
Investec Bank has arranged the long term refinancing of a portfolio of four UK projects totalling 40 MW solar portfolio owned by Canadian Solar. The long term debt was provided by Bayern LB after Investec ran competitive process for Canadian Solar. Investec originally provided a short term bridging facility that funded the portfolio shortly after its connection to the electricity grid.
Olivier Fricot, head of Power and Infrastructure Lending, Investec, said: "Having supported Canadian Solar in its first ROC based project financing Investec is delighted to have arranged a long term financing solution on very attractive terms to Canadian Solar. It further endorses the expertise of our team in the UK renewables sectors where we continue to see a strong level of lending and M&A activities."
"We are delighted to complete this project financing facility" said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. "This facility underscores Canadian Solar's strength as a global tier-1 player that has broad support from international financial institutions. We look forward to continuing our partnership with BayernLB and Investec to support the sustainable growth of our global project business."
