Canadian Solar and Ra Solar Espana Complete a 2.8MW Solar Farm Project in Spain
JIANGSU, China, Oct. 9 /Xinhua-PRNewswire/ -- Canadian Solar Inc. ("the Company,'' ''CSI,'' or ''we'') (Nasdaq: CSIQ) and Ra Solar Espana today held the official opening of a 2.8MW solar farm project in Albacore, Spain. The ceremony was attended by dignitaries including the Dutch ambassador and the Director of Industry of Castilla la Mancha.
The solar park, one of the largest photovoltaic plants in Spain, is expected to supply enough energy for 1,500 families.
CSI is the sole supplier of the solar modules in this project, which consists of almost 18,000 CS5A solar panels, mounted on a fixed structure and connected to 100 kW inverters. Ra Solar Espana is the main party behind the development of this 2.8 MW plant in the areas of project management, material procurement, project promotion and financing arrangement.
Linda Goossens, General Manager for Ra Solar Espana commented: ''CSI has been a reliable partner, especially with regards to delivery times and after sales services, which are crucial elements in projects of this size. At the same time, we are very pleased with the high quality of CSI modules. We have already placed further orders for CSI's solar modules for our future projects and look forward to working closely with CSI in future.''
Dr. Shawn Qu, Chairman and CEO of Canadian Solar Inc. commented: ''We are very pleased to be able to work together with Ra Solar on this important project. RA Solar is one of the leading, most reputable developers of large- scale solar farm projects in Spain and we are pleased to have been chosen as its partner. CSI has a strong reputation globally for being able to complete deliveries and installations for projects of large scale on time. The consistency and high performance of our modules have also differentiated CSI from our competitors in Spain. Spain is one of the fastest growing solar markets in the world for large-scale ground-mounted solar farms. We expect these large scale solar projects will continue to be a strong growth area for our business.''
About Canadian Solar Inc.
Founded in 2001, Canadian Solar Inc. (CSI) is a vertically integrated manufacturer of solar cell, solar module and custom-designed solar application products serving worldwide customers. 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 .
About Ra Solar Espana
Ra Solar Espana, based in Madrid, and with partners in the Netherlands, is a complete system supplier. It started more than a year ago with the project management of solar farms. It currently has the project management and supply of materials of 6 other parks of over 1, 5 MW each, which all will be finished under the existing RD. For more information, please visit: http://www.ra-solar.com .
Safe Harbor/Forward-Looking Statements
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 May 29, 2007 and its registration statement on Form F-1 originally filed on October 23, 2006, as amended. 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 CSI undertakes no duty to update such information, except as required under applicable law.
For Canadian Solar Inc.: In Jiangsu, P.R. China Bing Zhu, Chief Financial Officer Canadian Solar Inc. Tel: +86-512-6269-6755 Email: firstname.lastname@example.org In the U.S. David Pasquale The Ruth Group Tel: +1-646-536-7006 Email: email@example.com For Ra Solar Espana: Tel: +34-91-383-5827 Email: firstname.lastname@example.org
SOURCE Canadian Solar Inc. -0- 10/09/2007 /CONTACT: In Jiangsu, P.R. China, Bing Zhu, Chief Financial Officer of Canadian Solar Inc., +86-512-6269-6755, or email@example.com, or in the U.S., David Pasquale of The Ruth Group, +1-646-536-7006, or firstname.lastname@example.org; or for Ra Solar Espana, +34-91-383-5827, or email@example.com / /Web Site: http://www.ra-solar.com http://www.csisolar.com / (CSIQ) CO: Canadian Solar Inc.; Ra Solar Espana ST: China, Spain IN: OIL UTI ENV SU: ASI PDT MM -- CNTU024 -- 4938 10/09/2007 08:46 EDT http://www.prnewswire.com