KITCHENER, Ontario, Feb. 10 /PRNewswire-Asia-FirstCall/ -- Canadian Solar Inc. (Nasdaq: CSIQ), a leading vertically integrated provider of solar cells, solar module custom-designed solar application products and turnkey solutions for the residential, commercial and solar farm markets, today announced it installed Ontario's first 250 kW photovoltaic (PV) rooftop system through its subsidiary Canadian Solutions Inc. The installation, the first of its kind in Ontario, is being completed with Towcon Holdings and Aecon.
The rooftop installation includes 1,326 Canadian solar panels on approximately 74,668 square feet with a total rated capacity of 305 kW direct current. The system is owned by Dave Walden, President, Towcon Holdings, and is located off Hespeler Rd. between Langs Dr. and Bishop St. North, Cambridge.
"From completing the feasibility study to installing the first CS6P 230 panel, the installation team followed all required due diligence guidelines," said Dave Walden. "I'm proud to be part of the first 250 kW PV rooftop system installation in Ontario with Canadian Solar Solutions. It will increase the amount of solar power produced within Ontario while providing tangible financial benefits to this community."
The McGuinty government is making important decisions affecting the future of Ontario's electricity needs, including endorsing PV system installations. While the policies show promise in recognizing the opportunities of building greener buildings, few Ontario companies can provide turnkey solutions such as Canadian Solar Solution's 250 kW installation on 1139 Industrial Road, Cambridge.
Added Dr. Shawn Qu, Chairman and CEO, Canadian Solar Inc., "Canadian Solar has been providing solar solutions to customers in over 30 countries around the world since 2002, including Germany, Spain, Italy, France, Japan, Korea, the Czech Republic, the United States and Canada. We are extremely proud though to complete the first 250 kW PV rooftop system in Ontario since it is home to Canadian Solar and our corporate office. In addition, working together, we have developed a progressive model for the delivery of clean, renewable energy in Ontario and look forward to many more exciting projects like this."
"The new Green Energy Act is certainly making Ontario an exciting place to be a contractor. Projects like Canadian Solar Solution's 250 kW rooftop installation in Cambridge line up wonderfully with Aecon's culture and commitment to being "green", said Rob Kinnaird, Director, Business Development, Aecon. "We are extremely pleased that Canadian Solar has chosen the Aecon group of companies as an installation partner on their projects. We trust this is the first of many new solar initiatives that we will develop together."
About Canadian Solar Inc. (NASDAQ: CSIQ)
Canadian Solar Inc. is 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 systems for on-grid and off-grid use to customers worldwide. Canadian Solar is one of the world's largest solar module producers by manufacturing capacity. 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 on Canadian Solar Inc., visit http://www.canadiansolar.com . Canadian Solar Solutions Inc. is a wholly owned subsidiary of Canadian Solar Inc. For more information on Canadian Solar Solutions, visit www.canadian-solar.ca .
Safe Harbor/Forward-Looking Statements:
Certain statements in this press release including statements 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, including customers of our silicon materials sales; changes in demand from major markets such as Germany and Canada; risks associated with building our new Ontario facility; 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 originally filed on June 8, 2009, as amended by its report on Form 20-F/A filed on October 14, 2009. 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.
