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Canadian Solar enters into credit agreement to expand projects in Japan

Canadian Solar Inc. subsidiary Canadian Solar Projects K.K. announced March 30 that it has entered into a $35 million credit agreement to expand the development of solar energy projects in Japan.

The Ontario, Canada-based company said it entered into the three-year credit agreement with Sumitomo Mitsui Finance & Leasing Co. Ltd., a subsidiary of Sumitomo Mitsui Financial Group Inc., according to a news release.

"This is our second financing with the broader Sumitomo Mitsui Financial Group. We have successfully raised in excess of JPY13 billion of credit lines with them. We look forward to expanding our banking relationship in Japan and other important markets," said Shawn Qu, chairman and CEO of Canadian Solar, in the news release.