Canadian Solar Completes Sale of 635 MWp Solar Photovoltaic Project to VTRM in Brazil
"We are pleased to partner with VTRM in this transaction for the Jaiba V project, which will meaningfully contribute towards
According to Fabio Zanfelice, CEO of Votorantim Energia and Chairman of VTRM's Management Board, "The acquisition is part of the company's business expansion strategy with a focus on diversifying renewable energy sources to explore new growth opportunities, in order to bring more robustness and complementarity to VTRM's current portfolio." The investment is part of the company's 1.9 GWp pipeline in hydro and solar projects, as well as hybrid solutions, which the market was informed about in October. At the time, VTRM's shareholders –
VTRM Energia Participações S.A. is a joint venture between Votorantim Energia and
Canadian Solar 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 general business and economic conditions and the state of the solar industry; volatility, uncertainty, delays and disruptions related to the COVID-19 pandemic; 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, China and Brazil; 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; delays in the completion of project sales; delays in the process of qualifying to list the CSI Solar subsidiary in the PRC; 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; logistical challenges that could increase the selling costs of the Company; exchange rate fluctuations; litigation; potential initiation of an anti-circumvention investigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on April 19, 2021. 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.
Votorantim Energia and VTRM - FleishmanHillard Brasil Contacts: Andrea Giardino, firstname.lastname@example.org; Simei Morais, email@example.com; Investors: Canadian Solar Inc. Contacts, Isabel Zhang, Investor Relations, Canadian Solar Inc., firstname.lastname@example.org; David Pasquale, Global IR Partners, Tel: +1-914-337-8801, email@example.com