PowerBank completes CAD 25.4 million solar project refinancing with major Canadian bank
SUUN•PowerBank completed a CAD 25.4 million refinancing covering 53 operating solar projects, reducing outstanding project loan principal by approximately CAD 4.2 million, or 14%. It expects approximately CAD 5 million in net cash proceeds.
1. Refinancing terms
The project-level refinancing consolidates 50 credit agreements into one facility covering 53 operating solar projects. Borrowings remain at project-owning subsidiaries, and the company expects lower scheduled quarterly debt payments.
