Sep 27 (Renewables Now) - Canadian Solar Inc (NASDAQ:CSIQ) has received approval from the Tokyo Stock Exchange Inc (TSE) for the listing of an infrastructure fund, the solar module manufacturer said this week.
Canadian Solar Infrastructure Fund Inc (CSIF) will be listed on the exchange's infrastructure investment fund securities market, which was launched in 2015. The fund's initial portfolio will be made up of 13 solar facilities in Japan with a combined capacity of 72.7 MWp that Canadian Solar affiliates plan to sell to the vehicle.
Canadian Solar, which has been present in Japan since 2009, said that its 100%-owned subsidiary Canadian Solar Projects KK will be the sole sponsor of CSIF. Subsidiaries of the sponsor will provide asset management services and operation and maintenance (O&M) services to the fund.
The TSE launched the infrastructure fund market in 2015 for listing funds focused on infrastructure assets such as renewable energy facilities, power grids, and transport and transmission networks. The structure of these funds is basically similar to that of real estate investment trusts (REITs).