Canadian Solar has nailed down a C$48m ($43.5m) pot of financing to construct its 14MW Val Caron PV project in Ontario, as the “total solutions” unit continues to drive the company’s growth.
construction and term financing comes from Canada-based Manufacturer’s Life
located near the city of Sudbury, is one of five utility-scale arrays which
Canadian Solar last year agreed to sell to – and build for – the green-energy
arm of Concord Pacific, the Vancouver-based real-estate developer.
those five arrays – Val Caron (formerly known as Highlight) and Mighty Solar –
are under construction and due for completion during the second quarter, while
the other three will be brought on line over the course of the next year.
of Canadian Solar’s downstream development and EPC business, which is centred
in Canada, has helped lifts its market valuation far beyond any of its
China-based PV manufacturing rivals, most of which are now building their own
projects businesses of their own.
Solar, which yesterday reported a full-year profit for 2013, is today more than
twice as valuable as Yingli Solar, the world’s largest module supplier.
Solar’s total solutions business accounted for 29% of its revenues last year,
up from 11.5% in 2012, and the company believes it will account for half of
revenues in 2014 – even as it expects to sell up to 2.7GW of modules.