Canadian Solar Inc. has raised 5.4 billion yen, or US$47.0 million, after completing its second green project bond placement with Goldman Sachs Japan Co. Ltd. as bond arranger.

The dual-tenor bond will finance the company's 19.05-MWp Gunma Aramaki solar farm in Gunma Prefecture, Japan, according to an April 3 news release.

The initial tenor has a fixed coupon of 1.2875% and will mature in 1.5 years, and the extended tenor has a coupon of 1.3588% and will mature in 20.3 years, within a single-tranche of bond. Hitachi Capital Trust Corp. acted as the trustee.

The project, which is expected to go online in December, will sell power to Tokyo Electric Power Co. under a 20-year feed-in-tariff contract.