Funding to Canadian Solar for 12 large photovoltaic systems in Italy
Intesa Sanpaolo has finalized a 55 million euros revolving loan in favor of Canadian Solar, one of the largest companies in the world operating in the photovoltaic sector, to finance the construction in Italy of 12 large plants for the production of solar power in Sicily, Puglia and Lazio, with a total installed capacity of 151 MW.
Once up and running, they will produce approximately 287 GWh of solar energy per year, equal to the annual electricity consumption of over 57,000 people, with a reduction in CO2 emissions of 73,384 tons.
Thanks to our leadership in the Italian photovoltaic credit facility market, we are committed to actively contributing to the achievement by our country of the objectives set by the European Union for the transition to a carbon-neutral economy by 2050.
Mauro Micillo, Head of the Corporate and Investment Banking Division of Intesa Sanpaolo and CEO of Banca IMI
The first systems will be built in the third quarter of this year. These are the first in Italy to be built on a large scale without incentives and will be built using Canadian Solar HiKu CS3W-425 modules and EPC functionalities.
The transaction, one of the first to be finalised in Italy in terms of type and size, confirms Intesa Sanpaolo’s leadership in loans dedicated to photovoltaic systems, and will contribute to achieving the objectives set by the European Union for the transition by 2050 to a carbon-neutral economy.
Founded in 2001 in Canada, Canadian Solar is today one of the leading manufacturers of solar modules and supplier of solutions for the construction of large photovoltaic systems in the world. To date, it has installed over 38 GW to customers located in more than 150 countries. It is one of the most solid companies in the sector and has been listed on the Nasdaq since 2006. In Italy, it is awaiting authorization for the launch of other construction sites for over 900 MW of installed capacity.
Last updated 3 April 2020 at 15:42:54
