Grasshopper Solar Closes CAD $270 Million Financing from Deutsche Bank

Grasshopper Solar, Canada's largest fully-integrated solar company announced the successful completion of a CAD $270 million senior debt facility with Deutsche Bank; the largest of its kind in Canada. This facility will be used to drive further growth of Grasshopper's asset base. Grasshopper Solar currently has CAD $500 million 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. "This is a big win for the renewable energy sector and this transaction demonstrates our combined ongoing commitment to the proliferation of solar and reduction in carbon footprint. With this investment we will continue to explore new opportunities and expand our asset base."

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 Canada, the solar electricity sector is growing rapidly and is one of the top 20 solar electricity markets in the world.

Grasshopper Solar | www.grasshoppersolar.com

Deutsche Bank | www.db.com