Funding and M&A Roundup: Canadian Solar Issues €30 Million Green Bond

Equinor acquires 45% stake in battery storage developer Noriker Power

December 12, 2021

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Canadian Solar, a vertically integrated manufacturer of silicon ingots, wafers, and PV cells and modules, announced that Canadian Solar EMEA Capital Markets, an indirectly wholly-owned subsidiary of Canadian Solar, has completed a €30 million (~$33.9 million) green bond issuance due on December 2026 under its €100 million (~$113.05 million) Canadian Solar EMEA Green Medium Term Note Program in the Spanish multilateral trading facility (MTF) for debt securities (MARF). The company guarantees the notes and qualifies as green bonds pursuant to the International Capital Market Association (ICMA) Green Bond Principles and the Green Financing Frameworkdec. With the green bond proceeds, Canadian Solar aims to support the growth, development, and construction of its solar PV and battery storage portfolio in EMEA, currently at 4.6 GW and 2 GWh, respectively.

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