Canadian Solar Gets $46 Million Loan From Manulife (1)

Oct. 8 (Bloomberg) — Canadian Solar Inc., the third-best
performing solar manufacturer in the past year, is receiving a
C$51 million ($46 million) loan from Manulife Financial Corp.
for a project in Ontario.

Manulife is providing construction and term financing for
the 10-megawatt RayLight solar farm in Wyebridge, Guelph,
Ontario-based Canadian Solar said today in a statement. Terms of
the loan weren’t disclosed.

Concord Green Energy Inc. will acquire the solar farm,
which is expected to be connected to the grid in the fourth
quarter. BowMont Capital and Advisory is advising Concord on the

Canadian Solar rose 0.4 percent to close at $32.83 in New
York. In the last 12 months, the stock has gained about 80
percent, trailing only REC Solar ASA and SunEdison Inc. in the
17-member Bloomberg Intelligence Global Large Solar Index.

To contact the reporter on this story:
Justin Doom in New York at

To contact the editors responsible for this story:
Reed Landberg at
Robin Saponar

About BloombergNEF

BloombergNEF (BNEF) is a strategic research provider covering global commodity markets and the disruptive technologies driving the transition to a low-carbon economy. Our expert coverage assesses pathways for the power, transport, industry, buildings and agriculture sectors to adapt to the energy transition. We help commodity trading, corporate strategy, finance and policy professionals navigate change and generate opportunities.
Sign up for our free monthly newsletter →

Want to learn how we help our clients put it all together? Contact us