BUZZ-Canadian Solar Inc: Funding deal

Mon Sep 8, 2014 9:47am EDT
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** Solar panel maker's shares up 5 pct at $40.51

** Unit enters into financing agreement with Sichuan Development Investment Management Ltd to develop, construct and owner solar power generation projects in China

** Plans to raise $800 million

** Sichuan Development and Canadian Solar to contribute initial amount equally, with third party investors contributing the rest

** Up to Friday's close, Canadian Solar's stock had risen about 29 pct this year