Canadian Solar Supplies 2.8 MW of Commercial Three-Phase Inverters to Agricultural Farms in California

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Feb 19, 2016, 07:00 ET

GUELPH, Ontario, Feb. 19, 2016 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that the Company supplied 2.8 MW of Canadian Solar CSI-28/36-KTL-CT three-phase inverters to the Brar Family Partnerships in Delano, California. Staten Solar, a Silicon-Valley based EPC company, provided engineering, procurement, and construction services for Brar Farm's solar PV installation.

The environmental benefits from this solar system are significant. Not only will the Brar Farm's solar PV System produce enough electricity to power approximately 260 homes for a year, the installation is also expected to eliminate 2,500 metric tons of carbon dioxide emissions annually, equivalent to taking 500 cars off the road for one year.

"By installing the world's first levee mount Solar PV systems along the Brar Farm's irrigation levees, Staten Solar reduced the use of valuable, productive crop land by up to 30% vs. traditional solar PV systems. The solar energy system will save the client about $600,000 annually, in electricity bills," said Sandipan Bhanot, CEO and President of Staten Solar.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, "With the continued growth and momentum of solar within California, the inclusion of three-phase inverters as part of our product portfolio allows us to expand our addressable market while providing more value to our customers in the commercial solar segment. By collaborating together with prominent clean tech firms such as Staten Solar, we strive to make our corporate vision a reality through each solar installation in which we take part."

About Canadian Solar Inc.

Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and a provider of solar energy solutions, Canadian Solar has a geographically diversified pipeline of utility-scale power projects. In the past 14 years, Canadian Solar has successfully deployed over 13 GW of premium quality modules in over 90 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the company, follow Canadian Solar on Facebook, Twitter, LinkedIn, or on the website.

About Staten Solar Corporation

Staten Solar is a leading EPC contractor, financier, and installer of solar PV projects. Founded in 2008, with offices in San Jose, California and New Delhi, India, the company's focus is commercial and utility solar PV applications where it has a combined experience of more than 1 GW of projects from small business owners to billion dollar corporations. Customers know that they can trust and count on Staten Solar's innovative design methodologies, electrical know-how and system's expertise, and construction skills to deliver solar PV systems with the highest quality, most reliability, and best long term value. For more information, follow Staten Solar on Facebook, LinkedIn, Twitter, or on the website.

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 the previously disclosed SEC investigation as well as 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 from major markets such as Germany, Japan, the U.S. and China; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; continued success in technological innovations and delivery of products with the features customers demand; 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 23, 2015. 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. Investors 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.