TOKYO, June 13, 2019 (Newswire.com) - Grasshopper Solar, a global developer and asset owner headquartered in Canada, announced the successful completion of a $185 million senior debt facility with Deutsche Bank in Japan. This facility will be used to drive further growth of Grasshopper's asset base. Grasshopper Solar currently has $6.5 billion in assets under operation and in various stages of development globally.
"We are pleased to have partnered with Deutsche Bank," says Azeem M. Qureshi, CEO, Grasshopper Solar. "The Japanese market is a key part of our global asset mix and, with this investment, we will accelerate our expansion into this market."
Solar power is the most deployable and fastest growing source of energy in the world. The International Energy Agency (IEA) forecasts that by 2050, solar could account for 27 percent of the world's electricity mix, making it the largest source of electricity, ahead of nuclear, fossil fuels, hydro and wind. In Japan, the solar electricity sector is growing rapidly and is one of the top five solar electricity markets in the world.
About Grasshopper Solar
Grasshopper Solar is a global developer and asset owner headquartered in Canada. Founded in 2007, it currently has $6.5 billion in assets under operation and various stages of development in countries around the world. Grasshopper Solar has been the recipient of multiple national industry awards including Solar Innovator of the Year, Project Finance Innovator of the Year and Solar Developer of the Year.
About Deutsche Bank
Deutsche Bank Group provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany's leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.
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Source: Grasshopper Solar