The Fourth Solar Project in France Constructed by EOSOL Energies Nouvelles in Partnership with Canadian Solar
PARIS, Aug. 11, 2011 /PRNewswire via COMTEX/ --
Canadian Solar Inc. (NASDAQ: CSIQ), one of the world's largest solar companies, today announced that the company will supply 8 MW of solar modules to EOSOL Energies Nouvelles' new ground-mounted solar power plant that will have an installed capacity of 10.7 MW. The new solar power plant will be built in Saint-Leger in the south west of France with a total of 39,500 modules installed on an area of 180,000 m². The new solar power plant is expected to be activated in October 2011.
EOSOL EN previously selected Canadian Solar's high-quality, high-performance solar modules for three earlier installations in France: a 230 kW project in the town of Le Barp in the region of Aquitaine, an 8 MW project in Villeneuve de Marsan in the department Landes and a 5.1 MW project in La Genetouze in the department de Charente-Maritime. For the installation in Saint-Leger in the department of Charente-Maritime, EOSOL EN is also collaborating with TSK, an EPC company, and Abraxa Investment Fund for the project finance.
M. Bruno BERNAL, President of EOSOL Group declared:"This solar power plant is our fourth project in partnership with Canadian Solar. Canadian Solar has been an excellent partner with its modules manufactured to the highest international quality standards ensuring consistent and reliable performance. In addition, we value Canadian Solar's excellent customer service."
Dr. Shawn QU, Chairman and Chief Executive Officer of Canadian Solar, said: "We are proud to be selected for our fourth project with EOSOL EN. By having strong partners, like EOSOL EN, in key solar growth markets, like France, Canadian Solar continues to successfully expand our business and raise awareness for brand, quality, value proposition and commitment to customer service."
About EOSOL Energies Nouvelles:
EOSOL Energies Nouvelles is a major player in the development, investment and production of energy from natural resources. Specializing in solar, wind energy, biomass and solar thermal energy, EOSOL EN benefits from the confidence of the Caisse des Depots et Consignations for the co-financing of their projects and has worked with the best partners in the industry (Eiffage Energie, Siemens, Ingeteam, Forclum Aquitaine...) to strengthen its expertise. Installed two years ago in the science and technology park in Laseris1 in Barp (33), EOSOL Energies Nouvelles is a young company from Aquitaine which, with more than EUR 20M in assets, presents itself as the leading regional producer of electricity from ground-mounted solar energy. For more information, please visit www.eosol-en.com.
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 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.
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 May 17, 2011. 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.