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[STK] NASDAQ-NMS:CSIQ
[IN] OIL UTI ENV ALT GRE
[SU]
TO BUSINESS, ENERGY, AND ENVIRONMENTAL EDITORS:
Canadian Solar and NCC Complete Diesel Hybrid PV Installation serving
First Nation Community
GUELPH, Ontario, April 16, 2014 /PRNewswire-FirstCall/ -- Canadian
Solar Inc.(the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of
the world's largest solar power companies, today announced the
completion of the first diesel hybrid PV system in the remote
microgrids in northern Ontario, Canada. The 152kW rooftop solar array
on the Deer Lake First Nation Elementary School, completed by Canadian
Solar with its supplier partners, is the first project under the
strategic partnership with NCC Development, LP ("NCC"), a First Nation
renewable energy management company, in a commitment to use renewable
energy (RE) microgrid solutions to assist the energy needs of off-grid
First Nations and remote communities.
Serving the First Nations of Deer Lake, Fort Severn, Keewaywin, North
Spirit Lake, Poplar Hill and McDowell Lake located in northern
Ontario, NCC has identified more than 80 First Nations and remote
communities for potential RE microgrid solution deployment, in an
effort to promote photovoltaic services and projects to areas heavily
reliant on diesel and challenged by limited access to electricity.
"NCC is optimistic in moving forward with our partner Canadian Solar,
as we continue to build strategic collaborative efforts with leaders
in the solar and renewable energy industry to foster sustainable
development of Canada's indigenous communities. As North America's
largest producer of solar power solutions, Canadian Solar's industry
leading experience and expertise will greatly contribute to our
efforts," said Geordi Kakepetum, Chief Executive Officer of NCC
Development LP.
"Our partnership with NCC started 3 years ago. It underscores our
strong commitment to Canada, helping to bring solar power to areas
previously unable to get connected to the grid. Solar is a green,
flexible, low-cost, and sustainable energy solution for these
underserved First Nations and other rural areas. We are proud of our
involvement in this important effort and the direct impact we will
have on so many deserving families," commented Dr. Shawn Qu, Chairman
and Chief Executive Officer of Canadian Solar Inc.
"To reduce peak load and connect five more homes, we developed a
three-part plan, including conservation, load shifting, and installing
a PV solar system. This is important not only for the families who are
waiting to move into these new houses, but for all of Deer Lake," said
Chief Royale Meekis, the leader of Deer Lake First Nation during a
ribbon cutting ceremony. Deer Lake First Nation aims to eventually
replace 50% of their diesel consumption with the RE microgrid retrofit
solution. The focus of the partners in developing RE microgrid
solutions is also to help to build much needed additional clean energy
capacity, and to support future economic development in the
communities.
About Canadian Solar
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 6 GW of premium
quality solar modules to customers in over 70 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.
About NCC Development LP
Formed in 2012 with the investment of six First Nations, NCC
Development LP has, in a short period of time, become a significant
First Nation renewable energy management company specialized in
serving the renewable energy needs of First Nations and remote
communities, starting in northern Ontario, and in facilitating the
participation of First Nations in building locally owned renewable
energy assets. NCC has collaborated with Canadian Solar to pursue
First Nations projects across northern Canada, including in First
Nations communities and for resource extraction industries operating
on First Nation territories.
Safe Harbor/Forward-Looking Statements
Certain statements in this press release, including but not limited to
statements regarding the expected start of construction, date of
completion milestone payment terms, period of service, power
production and environmental impact 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 and the Province of Ontario; 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.
SOURCE Canadian Solar Inc.
-0- 04/16/2014
/CONTACT: Ed Job, CFA, Director, Investor Relations, Canadian Solar Inc., investors@canadiansolar.com; David Pasquale, Global IR Partners, +1-914-337-8801, csiq@globalirpartners.com; or Naveed Hasan, +1-415-583-0862, Naveed.Hasan@canadiansolar.com
/Web Site: http://www.canadiansolar.com
(NASDAQ-NMS:CSIQ) /
CO: Canadian Solar Inc.; NCC Development, LP
ST: Canada Ontario
IN: OIL UTI ENV ALT GRE
PRN
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0000 04/16/2014 09:00:00 EDT http://www.prnewswire.com
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