Canadian Solar has announced that it has signed a financing agreement whereby it will be able to obtain letters of credit (L/Cs) or guarantees from Canada's export credit agency.

Export Development Canada (EDC) agreed to provide the financial instruments to support the company's global expansion.

L/Cs and guarantees

EDC will be able to provide guarantees or L/Cs of up to US$100 million to Canadian Solar.

Royal Bank of Canada and Toronto Branch of China Construction Bank Corporation will serve as fronting banks on the facility.

Global expansion

Canadian Solar, a manufacturer of solar photovoltaic modules and provider of solar energy solutions, is one of the world's largest solar power companies.

It has provided equipment to more than 90 countries and currently has a geographically diversified pipeline of utility-scale power projects in various stages of development.

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