Canadian Solar Wins U.S. Contract
JIANGSU, China, Oct. 2 /Xinhua-PRNewswire/ -- Canadian Solar Inc. ("the Company," "CSI," or "we") today announced that it has signed a contract in the United States of America, an important market for the Company given the expectations for growth.
Under the agreement CSI will supply American Capital Energy of Chelmsford, Massachusetts, with its high quality CS5A solar modules for installations at the Crystal Rock Pure Water bottling facility. This project, located in Watertown, Connecticut will convert a commercial roof space into a private power generation site featuring a 300KW grid-connected solar power system.
Dr. Shawn Qu, Chairman and CEO of Canadian Solar Inc. commented: "This latest contract is an important step for us as it demonstrates that we can realize commercially viable projects in price-competitive markets like the U.S. Solar power is quickly gaining momentum with American corporations and communities. Our sales team has been leveraging our European leadership position to raise awareness in the U.S. We are energized and will look to use this win to capitalize on other existing and developing opportunities in the U.S. and broader North American markets."
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 American Capital Energy
American Capital Energy provides full-service solar energy project integration and installation for large commercial enterprises. The company is committed to furthering the utilization of solar energy by America's most forward thinking companies by offering customized turnkey solar systems designed for long term performance and verifiable return on investment. American Capital Energy is run by solar project professionals with decades of combined experience in project development and deep knowledge in the solar industry. For more on American Capital Energy, please visit www.americancapitalenergy.com.
Contacts: In Jiangsu, P.R. China In the U.S. Bing Zhu, Chief Financial Officer David Pasquale Canadian Solar Inc. The Ruth Group Phone: +86-512-62696755 Phone: +1-646-536-7006 firstname.lastname@example.org email@example.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.
SOURCE Canadian Solar Inc. -0- 10/02/2007 /CONTACT: In Jiangsu, P.R. China: Bing Zhu, Chief Financial Officer of Canadian Solar Inc., +86-512-62696755, firstname.lastname@example.org; or In the U.S.: David Pasquale of The Ruth Group, +1-646-536-7006, email@example.com, for Canadian Solar Inc./ /Web site: http://www.csisolar.com http://www.americancapitalenergy.com / (CSIQ) CO: Canadian Solar Inc.; American Capital Energy ST: China, Connecticut IN: OIL FIN UTI SU: ASI CON MD-KM -- LNTU100 -- 0853 10/02/2007 09:13 EDT http://www.prnewswire.com