CDB lents $44 million to CSIQ
Canadian Solar sought a $44 million loan from the China Development Bank to finance its project in China. It is a financing agreement for the 
construction of a 30MW solar project in the western part of China. Canadian Solar aims at becoming the world leader in PV provider with over 50% revenue generation from this stream alone. China Development Bank (CDB) is owned by the Chinese government. CDB has already extended billions of dollars in credit to Chinese solar panel companies like Suntech,Trina,Yingli, LDK and others. CDB has always extended funds either to protect the domestic Chinese solar panel producers or help business flourish in China. Once again CDB has come to forefront to offer help.
Canadian Solar (CSIQ) is a vertically integrated company, providing ingots, wafers, solar cells, solar modules, solar power systems and specialized solar products. The Company is headquartered in Canada with factories in China and Ontario. Canadian Solar operates in 11 countries: Canada, Germany, Italy, Japan, Korea, Spain, Australia, the United States, Singapore, HongKong and China. It is listed on NASDAQ Exchange. Canadian Solar has a wide customer base covering over 50 countries.
The company has seven wholly-owned manufacturing subsidiaries with a total combined facility space of over to 260,000 sqm and a module capacity of 2.05 GW. The total revenue generated in 2011 was $1.9 billion and Shipments of 1323 MW in 2011.
Canadian Solar provides the solar industry with the widest PV product lines from 0.03W to 305W. Canadian Solar also offers customized PV products and OEM service around the world. The Company sells a wide variety of solar panels unlike other producers. The Solar Panel Selling Price is also quite cheap. The Company sells a wide variety of solar panels unlike the other producers. Canadian Solar is one of the cheapest solar panel brands today globally.
Google+“Our new credit agreement is a testament to Canadian Solar’s recognition as a global leader in the utility-scale solar power plant business. We are delighted to have the support of China Development Bank as we continue to execute on our goal to generate over 50% of our revenue from total solutions, which include solar power project development, engineering, procurement and construction (EPC) services, and residential solar system kit sales,” said Dr. Shawn Qu , Canadian Solar’s Chairman and Chief Executive Officer.
