Canadian Solar Supplies Solar Modules for 9 MW Project in Spain

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Dec 01, 2011, 05:00 ET

MUNICH, Germany, Dec. 1, 2011 /PRNewswire-Asia-FirstCall/ -- Canadian Solar (NASDAQ: CSIQ), one of the world's largest solar companies, today announced that the company has supplied solar modules for a 9 MW solar power plant by OPDE Group in Spain. The solar system is scheduled for commissioning in the fourth quarter of 2011. With this project, Canadian Solar continues to extend its presence in Southern Europe.

In mid-October, OPDE Group started constructing a solar system in the town of Ablitas in the Spanish region of Navarra. For this PV project high quality and high performing CS6P-P solar modules of Canadian Solar are being used. "For our project, we need powerful and reliable solar modules that guarantee high yields for our system. In Canadian Solar we found a partner who convinced us by the modules' high quality, high performance and good value for money," said Teresa Marticorena, OPDE Marketing Manager.

"With the OPDE Group we have an internationally leading solar project company and a strong partner by our side with whom we will be able to further grow in Southern Europe and to successfully complete large projects," said Dr. Shawn Qu, Chairman and CEO of Canadian Solar.

About OPDE Group

OPDE Group is made up of the companies OPDE, MECASOLAR, and PROINSO. OPDE specializes in the development, construction, and maintenance of photovoltaic solar plants. It is one of the largest developers, constructors, and operators of photovoltaic solar farms in Europe and the USA. MECASOLAR specializes in the design and manufacture of solar trackers. Its products are the most widely used in Europe. In the past two years, MECASOLAR sold 28,200 single- and dual-axis solar trackers. PROINSO is a leading international retailer and sells modules, fixed structures, tracking systems, and inverters. For more information, please visit www.opdegroup.com.

About Canadian Solar

Canadian Solar Inc. (NASDAQ: CSIQ) is one of the world's largest solar companies. As a leading vertically integrated provider of ingot, wafer, solar cell, solar module and other solar applications, Canadian Solar designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use to customers worldwide. With operations in North America, Europe, Australia and Asia, Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar solutions to support global, sustainable development. 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 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; 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; 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 May 17, 2011. 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.