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[STK] NASDAQ-NMS:CSIQ
[IN] OIL UTI ENV ALT GRE
[SU] CXP
TO BUSINESS, ENERGY, ENVIRONMENTAL, AND TECHNOLOGY EDITORS:
Samsung and Canadian Solar Open Solar Manufacturing Facility in London
LONDON, Ontario, March 6, 2014 /PRNewswire-FirstCall/ -- The London
community celebrated the start of over 200 local renewable energy jobs
at the grand opening of the Canadian Solar Inc. (Canadian Solar)
manufacturing facility today. This is the fourth manufacturing
facility to be created by Samsung Renewable Energy Inc. (Samsung)
under the Green Energy Investment Agreement (GEIA) with the Government
of Ontario.
The Canadian Solar plant, located at 1400 Global Drive, began
operations in November, 2013. The plant produces solar PV modules and
medium voltage power stations to supply Samsung's Ontario solar
projects, including the 100 megawatt (MW) Grand Renewable Energy Park
in Haldimand County, the 100 MW Sol-Luce Kingston Solar PV project in
Kingston and Loyalist Township, and future solar projects within the
GEIA. The new facility is also a hub for solar energy research and
product development.
Not only does this facility fulfill Samsung's GEIA commitment to
create hundreds of manufacturing jobs at four plants, it also enables
Samsung to create thousands of engineering, procurement and
construction jobs at its solar projects in communities around Ontario.
In total, Samsung's GEIA projects will create 9,000 renewable energy
jobs across the province.
Samsung and its partners are investing $5-billion in Ontario to create
the largest cluster of solar and wind power anywhere on the planet.
Under the GEIA, Samsung will develop 300 MW of solar power in Ontario,
part of a total of 1,369 MW of clean, renewable energy that will
contribute to Ontario's initiative to phase-out coal-fired generation
by the end of 2014.
The Canadian Solar plant joins Samsung's Ontario manufacturing
partners Siemens in Tillsonburg, CS Wind in Windsor, and SMA in
Toronto. Together, the four manufacturing facilities now employ over
1000 Ontario manufacturing workers. Samsung will support all of its
manufacturing partners' efforts to develop export markets beyond the
GEIA project.
"Samsung is delivering on our commitments to the people of London and
throughout Ontario. As a globally responsible company, we are proud to
develop clean energy that is protecting the air that we breathe. We
are equally proud to contribute to the local economies in our project
and manufacturing communities."
- Ki-Jung Kim, Senior Vice President, Samsung C&T
"Samsung's commitment to develop clean energy is aligned with our goal
of contributing to the growth of solar powered energy in Canada. The
London manufacturing facility will produce modules and medium voltage
power stations to support the build out of Samsung's solar project
pipeline and create green jobs in the Province of Ontario market,
while at the same time consolidating our position as the leading
provider of solar energy solutions in Canada."
- Dr. Shawn Qu, Chairman and Chief Executive Officer, Canadian Solar
Inc.
Ontario's landmark green energy initiatives are all about our future.
I'm proud of our renewable energy sector and the robust industry we've
created and I'm confident that our clean energy investments will
continue to be a source of jobs for Ontarians for years to come."
- Bob Chiarelli, Minister of Energy
"On behalf of my colleagues in the federal government, I congratulate
Canadian Solar and Samsung on the opening of this facility today. Our
government knows that we must continue to work hard to make southern
Ontario a great place to invest and do business. The benefits of this
are clear: jobs for our people, growth for our businesses and success
for our region as well as Canada as a whole."
- Gary Goodyear, Minister of State (Federal Economic Development
Agency for southern Ontario)
"I'm delighted that Canadian Solar chose to open here in London,
creating new manufacturing, research and development jobs. This is
great news for London and will help boost our local economy, and also
continues our government's commitment to building cleaner energy in
Ontario."
- Deb Matthews MPP, London North Centre
About Samsung Renewable Energy Inc.
Samsung Renewable Energy is creating clean, renewable energy for
generations to come. Together with our partners, Samsung is making a
$5-billion investment in Ontario to create the world's largest cluster
of wind and solar power. Our investments will create 900 direct
renewable energy manufacturing jobs and 9,000 high-skilled jobs in
Ontario. Built on Samsung C&T's commercial and technical expertise and
the success of its renewable energy projects in several countries -
including the United States and Europe - Samsung is creating real
jobs, through real investment, benefitting real people. For more
information, please visit www.samsungrenewableenergy.ca.
About Canadian Solar Inc. (NASDAQ: CSIQ)
Founded in 2001 in Canada, Canadian Solar Inc. (NASDAQ: CSIQ) is one
of the world's largest and foremost solar power companies. As a
leading vertically integrated provider of solar modules, specialized
solar products and solar power plants with operations in North
America, South America, Europe, Africa, the Middle East, Australia and
Asia, Canadian Solar has delivered more than 4GW of premium quality
solar modules to customers in over 50 countries. Canadian Solar is
committed to improve the environment and dedicated to provide advanced
solar energy products, solutions and services to enable sustainable
development around the world. For more information, please visit
www.canadiansolar.com.
Safe Harbor/Forward-Looking Statements
Certain statements in this press release are forward-looking
statements that involve a number of risks and uncertainties that could
cause actual results to differ materially. These statements are made
under the "Safe Harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. In some cases, you can identify
forward-looking statements by such terms as "believes," "expects,"
"anticipates," "intends," "estimates," the negative of these terms, or
other comparable terminology. Factors that could cause actual results
to differ include the risks regarding general business and economic
conditions and the state of the solar industry; governmental support
for the deployment of solar power; future available supplies of
high-purity silicon; demand for end-use products by consumers and
inventory levels of such products in the supply chain; changes in
demand from significant customers; changes in demand in our project
markets, including Canada; changes in customer order patterns;
capacity utilization; level of competition; pricing pressure and
declines in average selling prices; delays in new product
introduction; continued success in technological innovations and
delivery of products with the features customers demand; utility-scale
project approval process; delays in utility-scale project
construction; shortage in supply of materials or capacity
requirements; availability of financing; exchange rate fluctuations;
litigation and other risks as described in the Company's SEC filings,
including its annual report on Form 20-F filed on April 26, 2013.
Although the Company believes that the expectations reflected in the
forward looking statements are reasonable, it cannot guarantee future
results, level of activity, performance, or achievements. You should
not place undue reliance on these forward-looking statements. All
information provided in this press release is as of today's date,
unless otherwise stated, and Canadian Solar undertakes no duty to
update such information, except as required under applicable law.
- 30 -
SOURCE Canadian Solar Inc.
-0- 03/06/2014
/CONTACT: Canadian Solar Inc. Contacts, Investors: Ed Job, CFA, Director, Investor Relations, Canadian Solar Inc., ir@canadiansolar.com; David Pasquale, Global IR Partners, +1-914-337-8801, csiq@globalirpartners.com, Media: Suzanne Wilson, Canadian Solar Solutions Inc., +1-519-837-1881, Suzanne.wilson@canadiansolar.com, Songul Atacan, Canadian Solar Inc., Director of Marketing, Americas, songul.atacan@canadiansolar.com; Samsung Renewable Energy Contact, Tim Smitheman, Samsung Renewable Energy, 416-817-9362, t.smitheman@samsung.com
/Web Site: http://www.canadiansolar.com
http://www.samsungrenewableenergy.ca
(NASDAQ-NMS:CSIQ) /
CO: Canadian Solar Inc.; Samsung Renewable Energy Inc.
ST: China
IN: OIL UTI ENV ALT GRE
SU: CXP
PRN
-- CN78042 --
0000 03/06/2014 19:30:00 EDT http://www.prnewswire.com
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