To be disbursed in three tranches, the loan amount will be used to finance the development of the projects with a total capacity of around 145.1MWdc.
Canadian Solar expects to begin construction on the projects totaling 40-50MWdc of the total capacity during the first half of 2014.
Canadian Solar president, chairman and CEO Shawn Qu said the company has secured financial support from Harvest North Star to develop its solar power project.
"This loan agreement demonstrates that we are on track to execute on our Japanese solar project pipeline, consolidate our position as a leading solar energy solutions provider on a global basis, and extend the visibility into our business results well into the future," added Qu.
Harvest North Star founding and managing partner Peter Tsao said the company, as Canadian Solar’s financial partner, provides financing solutions in this fast growing market.
