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Canadian Solar secures $40m loan from Credit Suisse

CTBR Staff Writer Published 01 February 2013

Canadian Solar has secured a one-year tenor loan worth $40m from Switzerland-based global financial services provider Credit Suisse.

The loan will support the company's previously announced acquisition of 4 solar projects in Ontario.

Canadian Solar chief executive officer Shawn Qu said that the company will look for blue chip financial and construction partners throughout entire project lifecycle in order to accelerate its global scale, track record, 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 US and worldwide," added Qu.

Canadian Solar designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use to customers worldwide.