SAN RAMON, Calif., September 11, 2012 /PRNewswire-FirstCall/ -- Canadian Solar Inc. (the "Company", "we" or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar companies, today announced a new program designed to make it even easier for commercial installers and solar developers to bring more solar projects to completion in the U.S. market. The new financial solutions program will include extended terms and a commercial loan offering in partnership with De Lage Landen Financial Services, Inc. (DLL), a global provider of financing solutions, further demonstrating Canadian Solar's commitment to its customers' success.
"The need for clean, alternative energy solutions is greater today than ever. As a global leader, Canadian Solar is always looking for ways to make it easier for our customers to successfully and efficiently move solar energy installations from the bid process to completion. Given the currently challenging environment, we are proud to partner with DLL to help our customers secure the financing they need for their end-user customers -- financing that they would otherwise have difficulty obtaining on their own," said Alan King, general manager of Canadian Solar USA.
The Canadian Solar Financial Solutions program delivers additional value to customers. By working directly with Canadian Solar to access financing solutions and source high quality solar products, customers will reduce their projects' complexity and streamline procurement and financing activities. Several notable solar financing options are available under the new program, including the option to finance up to 100 percent of a total project's cost for qualified end-users, along with favorable terms of up to 120 days on purchases for its commercial installer and solar developer partners.
"As a veteran of the industry, our financing programs are structured with the Canadian Solar customer in mind. From extended terms to commercial loans, we're committed to finding the right financing solutions to aid project completion in collaboration with a premier solar module manufacturer," said Mark McGovern, general manager, Clean Technology at De Lage Landen.
To learn more about the Canadian Solar Financial Solutions program call 925-866-2700.
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.
About De Lage Landen Financial Services
De Lage Landen, a fully owned subsidiary of Rabobank Group, specializes in asset-based financing programs for equipment manufacturers, dealers and distributors all over the world. Our programs cover our customers' total distribution chain, as well as a single source for financing, administration, risk and asset management solutions. De Lage Landen's diversified solutions include car leasing in the European market and consumer finance and factoring in the Dutch home market. For more information, visit www.delagelanden.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 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.