ONTARIO, Canada, October 9, 2012 /PRNewswire-FirstCall/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar companies, today announced that Canadian Solar Australia, a wholly owned subsidiary and REDSET, a solar products distribution company serving a network of over 1,000 licensed installers across Australia, have announced a solar module supply agreement.
Under the agreement, Canadian Solar will supply over 20 MW of high-performance solar modules per annum to REDSET to power a range of commercial and residential installations.
"Canadian Solar is proud to partner with REDSET, which has shown leadership in its support of the quality end of the solar energy market in Australia," said Rod Seares, General Manager of Canadian Solar Australia.
"REDSET has a reputation for excellent customer service and customer satisfaction. With each State and Territory setting their own feed-in tariffs and with different approaches to solar power legislation, it's important to work with a company that understands local market conditions."
REDSET has warehouses in Adelaide, Brisbane, Melbourne, Perth, Sydney and Townsville, offering local installers support from experienced solar power experts who have practical industry knowledge.
REDSET Managing Director Ross Young said that Canadian Solar's innovative approach to product development and warranties made it an attractive partner.
"Canadian Solar is a Tier 1 solar energy supplier with a reputation for service and dependability," Mr. Young said. "We have tested their products, visited their factories and been impressed with their quality, industry leading performance and reliability.
"Our customers will benefit from a compelling full service solar solution with a true 25-year insurance-backed guarantee."
Canadian Solar modules have undergone rigorous formal inspections and testing to be awarded international quality certifications.
About Canadian Solar
Canadian Solar Inc. (NASDAQ: CSIQ) 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, Africa, Australia, Asia and Africa, 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 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.