August 29, 2019 |
Canadian Solar said it has borrowed BRL487m (117m) from the regional development bank Banco do Nordeste (BNB) to finance two more solar projects in Brazil.
The Ontario-based renewable energy company took the 23-year loan to fund construction of the 114 MWp Francisco Sá and the 112 MWp Jaíba solar power projects. The interest rates on the loan are tied to the IPCA consumer price index, Canadian Solar said in a press release.
Canadian Solar won 20-year power purchase agreements (PPAs) for Francisc
Renewable energy company borrows $117m from the state-owned lender to finance two more projects