Canadian Solar finances Glenarm

Canadian Solar says it has obtained up to C$52m ($46.8m) in financing for the previously announced 10MW (AC) Glenarm solar PV project in Ontario.

Bank group Natixis will provide the non-recourse, construction plus term financing. It has a maturity term of construction plus 10 years.

Developed by Canadian Solar, the plant is due to enter commercial service by the fourth quarter. The project has a 20-year power purchase contract with the Ontario Power Authority.

Once in service, the project will be acquired by DIF Infra 3 RE Canada (Ltd).