CSIF acquires initial Japan PV portfolio for $267 million

pv-magazineNovember 28, 2017155

Canadian Solar listed the Canadian Solar Infrastructure Fund (CSIF) on the Tokyo Stock Exchange’s (TSE) infrastructure investment fund securities market earlier this week. CSIF priced its initial public offering of 177,800 investment units at JPY 100,000 per unit. Canadian Solar bought 25,395 units.

The fund will act as a vehicle through the group that can make long-term investments in solar projects. The 72.7 MW of solar capacity that CSIF picked up across 13 locations this week has been assembled to serve as its initial portfolio.

The projects that CSIF has purchased are scattered throughout the country, including installations in Ibaraki and Shizuoka prefectures on the eastern side of the island of Honshu, according to a statement to the TSE. However, many of the plants are located on the southwestern island of Kyushu, in Kumamoto, Nagasaki, Oita and Kagoshima prefectures. Although most of the acquired assets are below 2 MW in size, the portfolio includes a 34 MW solar plant in Kumamoto.

Canadian Solar Projects K.K., a wholly owned subsidiary of Canadian Solar, is the sole sponsor of CSIF. Canadian Solar Asset Management K.K., a wholly owned unit of Canadian Solar Projects, will manage all of the purchased assets on behalf of CSIF.

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