China Development Bank (CDB) has given Canadian Solar a loan of US$44.1mn for a solar project in China.

The 15-year facility (with one-year grace) will be used to construct a 30MW solar plant and ancillary facility in the west of the country.

Canadian Solar chairman Shawn Qu says: “Our new credit agreement is a testament to Canadian Solar’s recognition as a global leader in the utility-scale solar power plant business. We are delighted to have the support of CDB as we continue to execute on our goal to generate over 50% of our revenue from total solutions, which include solar power project development, engineering, procurement and construction (EPC) services, and residential solar system kit sales.”