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[STK] NASDAQ-NMS:CSIQ
[IN] OIL UTI ENV ALT GRE
[SU]
TO BUSINESS, ENERGY, AND ENVIRONMENTAL EDITORS:
Canadian Solar to Supply 43MW of Solar Modules in Japan
GUELPH, Ontario, April 22, 2014 /PRNewswire-FirstCall/ -- Canadian
Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ), one of
the world's largest solar power companies, today announced that it has
been awarded a module supply agreement to provide 43MW of photovoltaic
("PV") modules to the second largest solar power plant project in
Japan.
"We are proud to announce this large module supply agreement to
provide our high efficiency modules to the second largest solar power
plant in Japan, which is another significant milestone for Canadian
Solar in this important market," commented Dr. Shawn Qu, Chairman,
President and CEO of Canadian Solar, "This win further demonstrates
our strong position as a global tier 1 solar module supplier with
proven track record of delivery high efficiency and quality modules to
large solar power projects across the globe."
Canadian Solar will supply approximately 168,300 pieces of its 60 cell
high efficiency CS6P255P modules with power output of 255Wp for this
project. Module delivery is expected to start from May 2014 and to be
completed in February 2015.
The quality of Canadian Solar modules is substantiated by one of the
highest PTC ratings[1] out of over 12000 P-type crystalline modules
published on the Go Solar California website. In addition, Canadian
Solar modules also demonstrate higher energy yield of up to 5%
compared with products from other Tier 1 module suppliers, according
to PVSYST's system performance simulation.[2]
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 5GW 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
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 from management's current
expectations. 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- 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,
the U.S., Japan and China; 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 its
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.
[1] The PTC rating is used by the California Energy Commission to compile a list of solar modules that are eligible to participate in solar incentive programs in the State of California. The PTC rating is calculated using laboratory-tested parameter values and is generally recognized as a more realistic measure of PV module power output because the test conditions better reflect "real-world" solar and climatic conditions, compared to the STC (Standard Test Conditions) rating.
[2] PVSYST is a widely used software for modeling PV energy production or yield estimates for all PV systems. Yield simulations can be performed for sites at any location in the world where meteorological data is available.
SOURCE Canadian Solar Inc.
-0- 04/22/2014
/CONTACT: Ed Job, CFA, Director, Investor Relations, Canadian Solar Inc., investors@canadiansolar.com; David Pasquale, Global IR Partners, csiq@globalirpartners.com, +1-914-337-8801
/Web Site: http://www.canadiansolar.com
(NASDAQ-NMS:CSIQ) /
CO: Canadian Solar Inc.
ST: China Japan Canada
IN: OIL UTI ENV ALT GRE
PRN
-- CN09621 --
0000 04/22/2014 11:00:00 EDT http://www.prnewswire.com
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