TORONTO, April 6 /PRNewswire-Asia/ -- Canadian Solar Inc. ("the Company",
"Canadian Solar" or "we") (Nasdaq: CSIQ) today announced that we were recently
selected in a competitive bidding process to supply solar panels for 80,000
solar home systems for rural households in Sichuan province of China. The
total order size is 1.6 MW. This project was initiated and financed by China's
Ministry of Agriculture and the Sichuan Provincial Government. The solar home
systems are rated for a peak capacity of 20 Watts each. A system of this size
can power two lights and a small TV. The delivery of the 80,000 units will be
completed by April.
Dr. Shawn Qu, President and CEO of Canadian Solar said, "We were very
pleased to win this bid. A solar home system makes a real impact on the lives
of these rural households. In many cases it will be the first electrical power
source these rural families have ever had. We are very proud to be part of
this project. Canadian Solar has a business division devoted to the designing,
manufacturing and installing solar home and solar village systems for rural
electrification and has been actively involved in rural electrification
projects in China since 2004."
About Canadian Solar Inc. (NASDAQ: CSIQ)
Founded in 2001, Canadian Solar Inc. (CSI) is a vertically integrated
manufacturer of solar cell, solar module and custom-designed solar application
products serving customers worldwide. CSI is incorporated in Canada and
conducts all of its manufacturing operations in China. Backed by years of
experience and knowledge in the solar power market and the silicon industry,
CSI has become a major global provider of solar power products for a wide
range of applications. For more information, please visit
http://www.csisolar.com.
Contacts:
In Toronto, Canada In the U.S.
Alex Taylor, IR Director Joseph Villata
Canadian Solar Inc. The Ruth Group
Phone: +1-905-530-2334 Phone: +1-646-536-7003
Fax: +1-905-530-2001 jvillata@theruthgroup.com
ir@csisolar.com
Safe Harbor/Forward-Looking Statements for Canadian Solar
Certain statements in this press release including statements regarding
expected future financial and industry growth 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 shortage or availability of the supply 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; changes in customer
order patterns; changes in product mix; capacity utilization; level of
competition; pricing pressure and declines in average selling price; 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 3,
2008. 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.
-0- 04/06/2009
/CONTACT: In Toronto, Canada, Alex Taylor, IR Director, of Canadian Solar
Inc., +1-905-530-2334, or Fax, +1-905-530-2001, ir@csisolar.com; In the U.S.,
Joseph Villata of The Ruth Group, +1-646-536-7003, jvillata@theruthgroup.com/
/Web Site: http://www.csisolar.com /
(CSIQ)
CO: Canadian Solar Inc.
ST: Canada
IN: OIL ALT FIN
SU: CON
PR
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0769 04/06/2009 10:25 EDT http://www.prnewswire.com