As stated by the EIB, the framework loan will finance the construction and operation of a portfolio of photovoltaic projects in Italy, with an aggregate capacity of approximately 300-350 MWp. The projects are expected to start construction between 2023 and 2025.
The aim is to finance a NewCo, the holding company with an exclusivity right to acquire 100% of solar photovoltaic projects developed by Canadian Solar (CS).
The NewCo will build and operate a portfolio of projects in Italy, with an expected capacity of 1.3GW. The Promoter is a leading Solar PV module manufacturer, with experience in the
development, construction and operation of solar PV projects
Besides the EIB loan, the NewCo will be funded with equity provided by CS.
As stated by the EIB, the investments targeted by the operation are expected to have limited social and environmental impact, provided that all mitigation measures, assessed by the Bank at the project level as part of the allocation approval process, are implemented.
As stated on the company's website, Canadian Solar (NASDAQ: CSIQ) was founded in 2001 and made its debut on the NASDAQ in 2006. Over the past two decades, Canadian Solar has become a global leader in solar energy and energy storage solutions. We have also ventured into the development of large-scale solar power plants and battery storage projects worldwide. As of the end of June, our presence spans across more than 30 countries, with a dedicated workforce exceeding 20,000 employees.
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Promoter - Canadian Solar Inc.:
Italian subsidiary - Canadian Solar Construction S.R.L.
Address: Via Mercato, 3 20121 Milan, Italy
Phone: +39 02 39190730
ACCESS TO INFORMATION
You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm
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