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Canadian Solar Inc (CSIQ), a Photovoltaic products manufacturer announced that it has signed strategic partnership agreements with Bank of China, Bank of Communications and Industrial and Commercial Bank of China to get hold of as much as US$2.2 billion in aggregate credit facilities.

Each bank may offer up to 5 billion yuan (US$732.7 million) to domestic and overseas solar projects wherein Canadian Solar supplies solar modules. Canadian Solar may establish a China holding company to manage these and other transactions.

The company also announced that the Suzhou New District government in Jiangsu province has agreed to provide 7.5 million yuan (US$1.1 million) in matching funds to support commercial rooftop and building integrated photovoltaic projects undertaken by Canadian Solar in the district. The district government is providing funds in conjunction with subsidies provided by the ministries of finance and constructions.

Source: Seeking Alpha

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Ysolars said:

Solar Companies it is great to see good companies like Canadian Solar.....hope they can also bring good ethics to the chinese company besides great products. we dealt with a company dealing with Solar called Ysolars this company is a pure fraud and their owner Hao Jianxue and CEO Chongde Liao are thiefs and corrupt be careful, they steal from employees, from contracts etc.....pure cowards... http://www.accessmylibrary.com/coms2/summary_0286-13119790_ITM

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February 20, 2010
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