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Canadian Solar Secured Funds for Yamaguchi Shin Mine Solar Plant in Japan

Canadian Solar has 597MW of utility scale projects in late-stage development in Japan already and this project would drive the Lithium-ion battery market globally, which is require for power back-up

Canada:  Canadian Solar has secured USD141.5 million for building and operation of 55 MW Yamaguchi Shin Mine solar plant in Japan. The loan was secured in the form of Senior Subordinate non-recourse term facilitated by Hanwha Asset Management with a maturity of 17 years. According to Canadian Solar Chairman, this is the largest investment in Japan and represents a significant milestone in the build-out of their solar power pipeline. 

TechSci Research depicts that increasing investment in solar projects would positively impact the Lithium-ion battery in Japan. Moreover Lithium-ion battery is an energy storage device capable of charging and discharging. In comparison to traditional battery technologies, they are capable of providing significantly high performance. Consequently, lithium-ion battery is being increasingly used as a power supply source for consumer electronics as well as for hybrid and electric vehicles. Consequently, adoption of lithium-ion battery is expected to witness robust growth due to its various advantages such as cost efficiency, high energy density, high response time, better safety and long life cycle.

According to released report of TechSci Research Global Lithium-ion Battery Market By Type, By End User, By Region, Competition Forecast and Opportunities, 2011 – 2021”, the global lithium-ion battery market is projected to grow at a CAGR of over 17% during 2016 - 2021. On the basis of material used as the cathode, global lithium-ion battery market has been segmented into five categories, Lithium Nickel Manganese Cobalt Oxide, Lithium Iron Phosphate, Lithium Cobalt Oxide, Lithium Titanate Oxide and Others. Among these categories, Lithium Nickel Manganese Cobalt (Li-NMC) dominated the global lithium-ion battery market in 2015.

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