Canadian Solar and Blue-Tech Srl Complete 4 Installations in Northern Italy

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Sep 01, 2010, 06:00 ET

MILAN, Italy, Sept. 1 /PRNewswire-Asia-FirstCall/ -- Canadian Solar (Nasdaq: CSIQ), one of the world's largest solar companies, and Blue-Tech Srl, an experienced Italian company working in the renewable energy and photovoltaic solar sectors, have announced the completion of four new solar projects in Northern Italy: two residential rooftop installations in Sirmione (BS) and Cremona (CR), and two industrial plants, both in the Municipality of Siziano (PV).

Canadian Solar's 230-Watt CS6P high-performance modules, which are designed to guarantee high energy conversion capacity even in low light, were installed at the residential plants in Sirmione and Cremona - with 99 kWp and 5,52 kWp, respectively. The modules are directly connected to the grid to meet the full energy requirements of the buildings.

The new residential rooftop systems will also help reduce CO2 emissions by 1.169kg/per year in Sirmione, and by 1.915kg/per year in Cremona.

In the province of Pavia, in Siziano at a brand new logistics center made by Eurocomp & Ind. S.p.A, Canadian Solar and Blue-Tech have collaborated on two fully integrated photovoltaic systems of 670-kWp and 811-kWp, implemented with the help of installers Sea Energie Srl (and consultants Arca Service Srl). The former project is made of approximately 2,910 CS6M Canadian Solar modules and has a nominal capacity of 737,000 kWh. The latter project includes approximately 3,530 CS6M Canadian Solar modules with a nominal capacity of 892,000 kWh. Canadian Solar's modules have achieved excellent performance ratings in the top PV USA (or PTC) ranking. PTC tests are rapidly spreading as a universally accepted and recognized standard for the measurement of the level of electricity and performance produced by a module in real conditions.

"We are really proud to collaborate with Blue-Tech for the installations of these new photovoltaic systems that will allow the clients to save on the energy bill and to contribute also to environmental sustainability," commented Dr. Shawn Qu, Chairman and CEO of Canadian Solar. "We chose to work with Blue-Tech for their proven experience in the solar industry, their professionalism in marketing and their effective management in business operations."

"We are very pleased of our collaboration with Canadian Solar, a well-known brand around the world. By working together, we are able to offer customers a comprehensive product portfolio with one the best quality to price ratios," said Faustino Ghidini, Blue-Tech's CEO. "Canadian Solar is delivering solar power products of uncompromising quality to its customers and is providing them with solutions for all their solar needs, and we share the same commitment."

For more information on Canadian Solar and Blue-Tech visit the websites http://www.bluetech-italia.com and http://www.canadiansolar.com .

About Blue-Tech Srl

Blue-Tech was established in 2002 to develop innovative projects in the renewable energy sector. The company has been working in Italy for over three years, providing ready-to-use systems of any kind, from enterprise to residential, the public sector, commerce and agriculture. One of the strengths of the company is full customer assistance, through a team of designers, technical staff, artisans and sector-specific professionals for any need relative to the photovoltaic sector, be it of a technical or insurance/financial kind. The available systems include all the technologies and designs available on the market, with a special attention to full architectural integration to preserve the cosmetics of the system and energy and productive efficiency. For more information, visit http://www.bluetech-italia.com .

About Canadian Solar Inc. (NASDAQ: CSIQ)

Canadian Solar Inc. 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 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 and internal investigations 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 August 19, 2010. 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.