Energy Economy

03 Dec 2021

Canadian Solar Raises €30m War Chest

03 Dec 2021  by   

Canadian Solar has successfully completed a €30m green bond issuance to support the growth, development and construction of its solar and battery storage portfolio in EMEA.

The bond is due on December 2026 and the notes are guaranteed by the company and qualify as "green bonds" pursuant to the International Capital Market Association (ICMA) Green Bond Principles.

Canadian Solar’s solar and battery portfolio stands at 4.6GW and two gigawatt-hour respectively.

The notes, with a unit face value of €100,000 each, have a tenor of five years and a coupon of 4.0%.

Investors included mainly public credit entities, mutual funds and non-financial corporations.

Canadian Solar said it may raise more funds over the next twelve months to complete the note programme's total size of €100m depending on the “timing of its capital requirements and market conditions”.

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