Canadian investment of £41.9m hits UK solar

A Canadian renewable energy firm has secured a £41.9 million refinancing deal for a portfolio of solar projects in the UK. Canadian Solar closed the project finance facility with German […]

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By Jonny Bairstow

A Canadian renewable energy firm has secured a £41.9 million refinancing deal for a portfolio of solar projects in the UK.

Canadian Solar closed the project finance facility with German bank BayernLB for 10 operating plants, totalling 52.2MW in renewable generation capacity.

The company said the projects are accredited under the Renewable Obligation Certificate (ROC) scheme for a period of 20 years.

Canadian Solar Chairman and CEO, Shawn Qu, said: “We are excited to continue our partnership with BayernLB as we seek opportunities to expand our solar energy development initiatives across Europe.”

A solar energy fund in the UK expects its total annual energy generation for 2017 fell below its initial expectations.