Italian Solar Farm Completed with Canadian Solar Modules

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Jun 07, 2010, 06:55 ET

ONTARIO, June 7 /PRNewswire-Asia-FirstCall/ -- Canadian Solar (Nasdaq: CSIQ), one of the world's largest solar companies, today announced the completion and commissioning of a solar farm in Umbria in the Italian town of Narni. The 1 MW SOLARTA installation consists of 4,000 high-performance Canadian Solar CS6P 230-Watt modules capable of producing clean energy with an annual output of 1.18 MWh, and 16,000 tons of reduction in CO 2 emissions. The installation was completed by Canadian Solar's partner GE Progetti & 3i on a two-hectare rural area without the use of reinforced cement in an effort to be environmentally friendly and to maintain the aesthetics of the landscape.

The SOLARTA project is hooked up to the local electrical network and all the energy produced will be delivered to the grid. This solar plant demonstrates how photovoltaic energy systems can be installed with full respects to the environment, but also as highly profitable investment in energy production. The photovoltaic panels from the Canadian company occupy 50% of the area and are arranged geometrically in multiple rows. In order to get the most out of the irradiation, the solutions adopted by SOLARTA are tilted at 28 degrees in order to guarantee greater exposure to direct rays of the sun.

"GE Progetti & 3i relies on Canadian Solar as a trusted partner given its high quality and high performance products, which are ideal for large installations like this one," says Leonardo Pozzoli, Commercial Director Renewable Energy Department of GE Progetti & 3i. "Moreover, Canadian Solar's strong global reputation is helpful when working with customers seeking bank support for profitable PV installments."

"Italy remains one of the world's fastest growing, most attractive solar markets. Canadian Solar has been a leader in Italy, with this latest installation underscoring our commitment to actively participating in the further development of the solar market in Italy," says Marco Di Pietro, Country Manager with Canadian Solar for Italy. "We are proud that our high-quality and high-efficiency modules have been chosen to make SOLARTA a reality. We thank GE Progetti & 3i for providing the design, coordination and execution that makes SOLARTA PV farm a great success."

CS6P: efficiency, reliability, and safety

The CS6P from Canadian Solar are large size standard modules (H 1638 x L 982 x P 40 mm) used in systems connected to the grid, characterized by 60 solar cells capable of delivering high energy conversion capacity, even when light conditions are poor. The technologies used to design and produce these modules ensure high performance, excellent yield, and dependable durability over time.

The tests and rigorous quality controls that Canadian Solar products undergo ensure the very highest qualitative standards. The module rating is guaranteed for 25 years, and the product for 6 years.

For more information about what Canadian Solar has to offer, visit them on the web at http://www.canadiansolar.com .

About GE Progetti & 3i S.p.A.

GE Progetti & 3i Spa is an engineering company operating in renewable energies with particular attention to photovoltaic systems. It operates also as system integrator with final and complete solutions for other companies or for itself by leveraging on local agreements. The majority of plants recently installed are 1MW projects each.

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 and Asia, Canadian Solar provides premium quality, cost-effective and environmentally friendly solar solutions to support global, sustainable development. For more information, visit http://www.canadiansolar.com .

Safe Harbor/Forward-Looking Statements

Certain statements in this press release including statements regarding our expected future shipment volumes, gross and net margins, manufacturing capacities and cell conversion efficiencies, 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 SEC and internal investigations described above 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, including customers of our silicon materials sales; 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 originally filed on June 8, 2009, as amended by its report on Form 20-F/A filed on October 14, 2009. 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.