Canadian Solar seals $50m financing for solar project in Argentina

In:

Renewable energy

Region:

Americas

Canadian Solar has secured US$50 million in non-recourse project financing for its 100.1MWp solar power project in Cafayate, Salta Province, Argentina.

The financing package, arranged by CAF - the Development Bank of Latin America, consists of a US$30 million CAF A-loan with a 15-year tenor, a US$15 million parallel loan from the Argentinian Development Bank of Investment and Foreign Trade with a 15-year tenor, and a US$5 million parallel loan from the Bank of the City of Buenos Aires (Banco de la Ciudad) with a ten-year tenor.

CAF and Canadian Solar have a financing target of US$75 million, and are seeking an additional US$25 million in senior financing which is expected to close in early 2019.

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