According to IFC website, a new module manufacturing facility is being established currently in the Vietnam Singapore Industrial Park, Hai Phong, Vietnam.Canadian Solar as a project company. The company has diversified into other markets by building and connecting more than 1.74 GWp of projects (ncluding projects developed and connected by its wholly owned subsidiary, recurrent energy, a solar energy developer in North America) either as an engineering, procurement and construction ("EPC") contractor, or project developer.
The investment in which IFC involves:
1. Purchase of up to $10 million of shares in the company; and
2. Loans of up to $40 million for IFC's own account and $20 million as part of the Managed Co-Lending Portfolio Program.
The proceeds of the equity and loans will be directed towards the manufacturing facility in Vietnam and those to be potentially constructed in Brazil as well as general corporate finance purposes related to manufacturing operations in emerging markets.
Canadian Solar Inc. (“Canadian Solar” or “the Company”), founded in 2001, is a tier-one solar manufacturer and solar energy solutions provider that has two main business focus areas:
(i) the manufacture and sale of solar modules; and
(ii) the development of utility scale and distributed solar power plants. Canadian Solar shipped 3.105GW of solar modules in 2014 and is the third largest solar company in the world by revenue.
The Company is headquartered in Guelph/Ontario, Canada with manufacturing operations in Canada, China, and Indonesia. The proposed project will support Canadian Solar’s modules manufacturing plant expansion plans in emerging market locations, here foremost Vietnam and other corporate financing requirements related to manufacturing operations in emerging markets (the “Project”).
Canadian Solar (USA) Inc.
Dr. Andrea Wuttke
Phone No.: +1 888 998 7739
Email Address: email@example.com
2420 Camino Ramon, Suite 125, San Ramon, CA 94583-4385, USA
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