Canadian Solar Successfully Issues ¥18.5 Billion Green Bond in Japan

Solar and renewable energy firm Canadian Solar has issued a ¥18.5-billion green bond in Japan, its seventh in the country. In a statement, the company said it plans to use the funds raised to develop its solar and energy storage unit Recurrent Energy.

Founded in 2001 in Canada, the firm is one of the world’s largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development.

Over the past 22 years, Canadian Solar has successfully delivered over 102 GW of premium-quality, solar photovoltaic modules to customers across the world.

Commenting on the bond sale Canadian Solar’s CEO Shawn Qu said: “This is another ground-breaking green bond transaction brought to the Japanese market by Canadian Solar and this bond provides us with enhanced liquidity and flexible funds to grow Canadian Solar’s Recurrent Energy’s global business through our well-established solar and battery storage development track record and financing capabilities.”

The “green samurai private placement” was arranged by Goldman Sachs Japan and matures in three years. It bears a mix of both semi-annual fixed and floating coupons of 1.82% and 1.49% per year, respectively.