Canadian Solar joins with Sichuan Development in $810 million solar fund

• 9 years ago (2014-09-09)
• Junior Isles

Asia 848 Renewables 752

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Guelph, Ontario-based solar panel producer Canadian Solar Inc. (CSIQ) and Sichuan Development Holding Co., the investment arm of China’s Sichuan province, are to create a 5 billion yuan ($810 million) fund for building new Chinese solar projects.

Canadian Solar has been the third-best performing solar panel maker globally over the past year and will join with Sichuan Development Holding Co. and third party investors to create the fund, Canadian Solar Chief Executive Officer Shawn Qu said in a statement.

The funds will be focused on building utility-scale and rooftop solar projects in Sichuan and other areas, according to Qu.

Shares in Canadian Solar rose 4.3 per cent to $40.24 early on 8th Sept, the company’s largest gain in more than two years.