GUELPH, Ontario, Nov 3, 2016 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that the company supplied 5.74 MW of Canadian Solar MaxPower CS6X-310P modules to two projects located in Fowler, California. The first installation -- the 2.49 MW Bee Sweet Citrus Farm -- consists of 8,034 Canadian Solar MaxPower panels. The second installation -- the 3.25 MW National Raisin Company Farm -- consists of approximately 10,509 Canadian Solar MaxPower panels, making this array one of the largest agricultural solar systems in the nation. Pickett Solar, a Fresno, California-based solar developer, provided Engineering, Procurement, and Construction ("EPC") services.
The environmental benefits from these solar systems are significant. The Bee Sweet Citrus installation is expected to produce approximately 3,442,000 kWh of electricity annually, and the National Raisin Company installation is expected to produce approximately 5,523,500 kWh of electricity annually. In total, the cumulative amount of electricity produced from these two installations is equivalent to powering 564 American homes for one year. In addition, approximately 5,000 metric tons of carbon dioxide will be offset annually from these projects.
Mike Pickett, Owner of Pickett Solar, said, "When working with our agriculture clients, they look for bankable, proven equipment. We are proud to partner with Canadian Solar, an industry-leader in quality and service."
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, "As the popularity of solar energy continues to increase throughout the sunny state of California, Canadian Solar is proud to be selected as the solar energy solution provider for Bee Sweet Citrus, Inc. and the National Raisin Company. We believe solar energy is a good investment for the agricultural sector, especially in California's Central Valley, in addition to generating new jobs in the local community."
About Canadian Solar Inc.
Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 14 years, Canadian Solar has successfully delivered over 16 GW of premium quality modules to over 90 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.
About Pickett Solar
Pickett Solar is a design and installation solar company based in Fresno, California. As a division of Don Pickett & Associates, Inc. with over 30 years of experience in commercial, agribusiness and government construction, Pickett Solar is uniquely qualified to help customers upgrade their commercial facilities with solar. Their seasoned in-house design and engineering departments know how to provide clients with the most efficient design and avoid the problems that can plague solar projects. In addition, their longstanding relationships in the construction industry allow Pickett Solar to draw on the best local craftsmen. This ensures their solar installations are completed on time and built with the utmost quality. Pickett Solar serves the Central Valley of California. For more information, please visit www.pickettsolar.com or phone (559) 438-1074.
Safe Harbor/Forward-Looking Statements
Certain statements in this press release regarding the Company's expected future shipment volumes, gross margins, business prospects and future quarterly or annual results, particularly the management quotations and the statements in the "Business Outlook" section, 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 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 Japan, the U.S., India and China; 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; delays in utility-scale project approval process; delays in utility-scale project construction; 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 20, 2016. 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. Investors 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.
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