Canadian Solar Project Named POWER-GEN International 2012 Solar Project of the Year

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Jan 08, 2013, 05:32 ET

GUELPH, Canada and SAN RAMON, Calif., Jan. 8, 2013 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ) today announced that its submission of the 148 MW solar park PV project in southern Brandenburg, Germany was named the 2012 winner of the Solar Project of the Year Award by POWER-GEN International.

The solar complex in southern Brandenburg, one of the world's largest PV projects covering 352 hectares (870 acres), was constructed on a former lignite mining strip in the East German community of Meuro, near Senftenberg. Canadian Solar provided 636,000 CS6P-P modules, powering nearly 90 percent, 148 MW, of the project's 166 MW total output.

By utilizing a former surface mine for the installation, the PV solar project converted a brownfield into an energy-producing solar farm, creating hundreds of local construction and operations jobs and generating enough clean, renewable solar energy to power 67,500 households in the region.

"It is an honor to have the solar complex in Brandenburg recognized as the best solar project in the world by the POWER-GEN International team; this project required a tremendous collaboration effort that would not have been possible without our two partners, project developers and contractors saferay and GP JOULE," said Dr. Shawn Qu, Chairman and CEO of Canadian Solar. "The success of this project proves that it is faster to develop, build and achieve dividends on large-scale solar PV systems than any other type of power plant, even in regions with fewer sun hours."

The award was announced at POWER-GEN International's Projects of the Year awards gala in Orlando.

The solar complex in Brandenburg beat out 43 other entrants from around the world to take top honors in the Best Solar Project category. Finalists were chosen by a team of eight editors from Power Engineering and Renewable Energy World.

With a track record of quality, Canadian Solar executes against a strict process plan to monitor the vitals of quality control throughout all phases of their solar product production. The Canadian Solar modules pass through rigorous formal inspections and testing that have earned the solar products a long list of international certifications. Canadian Solar delivers a wide portfolio of solar products and solutions that are recognized for their reliable quality, performance, and value.

For additional detail on the POWER-GEN International Projects of the Year Awards and a complete list of winners, please visit http://www.power-eng.com/articles/2012/12/and-the-winners-are.html.

About Canadian Solar

Canadian Solar Inc. is one of the world's largest solar companies. As a leading vertically integrated provider of ingots, wafers, solar cells, solar modules 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, Africa and Asia, Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar solutions to support global, sustainable development. For more information, visit www.canadiansolar.com.

U.S. offices:

12657 Alcosta Blvd, Suite 130, San Ramon, CA 94583
Telephone: 1-925-866-2700
Fax: 1-925-866-2704

945 Concord Street, Framingham, MA 01701
Telephone: 1-508-620-4743
Fax: 1-508-879-0698

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 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 in our project markets, including Canada; 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 27, 2012. 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.