GUELPH, Ontario, Oct. 2, 2014 /PRNewswire/ -- Canadian Solar
Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of
the world's largest solar power companies, today announced that its
wholly owned subsidiary, Canadian Solar Solutions Inc., has closed
the sale of three solar power plants, William Rutley, Liskeard 3
and Liskeard 4, totaling 30 MW AC and valued at over C$180 million ($161.2
million) to TransCanada Corporation (TSX, NYSE: TRP)
("TransCanada"). The William Rutley project closed on
September 29, 2014 followed by
Liskeard 3 & 4 on September 30,
2014
"We are delighted to complete the sale of these three
utility-scale solar power plants to TransCanada, one of
North America's most successful
energy infrastructure companies," said Dr. Shawn Qu, Chairman and Chief Executive Officer
of Canadian Solar Inc. "This transaction brings the number of
project sales in Ontario in the
third quarter of 2014 to five, and is another testament to our
utility-scale project development capabilities and expertise,
as we continue to expand our total solutions business model
globally."
The William Rutley solar power plant totals 10 megawatt AC and
is located in the town of Ingleside. The Liskeard 3 & Liskeard 4
totaling 20 megawatts are located in the town of Temiskaming
Shores.
About Canadian Solar Inc.
Founded in 2001 in Ontario, Canada, Canadian
Solar is one of the world's largest and foremost solar power
companies. As a leading manufacturer of solar photovoltaic modules
and provider of solar energy solutions, Canadian
Solar has an industry leading and geographically diversified
pipeline of utility-scale solar power projects as well as a track
record of successful solar deployment boasting over 7 GW of premium
quality modules installed in over 70 countries during the past
decade. Canadian Solar is committed to providing
high-quality solar products and solar energy solutions to customers
around the world. For more information about our company, products
and projects please visit www.canadiansolar.com.
About TransCanada
With more than 60 years' experience, TransCanada is a
leader in the responsible development and reliable operation
of North American energy infrastructure including natural gas and
liquids pipelines, power generation and gas storage facilities.
TransCanada operates a network of natural gas pipelines that
extends more than 68,500 kilometres (42,500 miles), tapping into
virtually all major gas supply basins in North America. TransCanada is one of the
continent's largest providers of gas storage and related services
with more than 400 billion cubic feet of storage capacity. A
growing independent power producer, TransCanada owns or has
interests in over 11,800 megawatts of power generation in
Canada and the United States. TransCanada is developing
one of North America's largest
liquids delivery systems. TransCanada's common shares trade on the
Toronto and New York stock exchanges under the symbol TRP.
Visit TransCanada.com and our blog to learn more, or connect with
us on social media and 3BL Media.
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 general
business and economic conditions and the state of the solar
industry; governmental support for the deployment of solar power;
future available supplies of solar grade silicon; demand for solar
products by consumers and inventory levels of such products in the
supply chain; changes in demand from significant customers; changes
in demand in our project markets, including Canada, the
U.S., Japan and China; changes in customer order
patterns; 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; utility-scale project approval process delays;
utility-scale project construction delays; utility-scale project
cancelation due to failure to obtain all the necessary permits;
shortage in supply of materials or capacity requirements;
availability of financing; exchange rate fluctuations; trade
protectionism in Europe, the U.S. and India; litigation
and other risks as described in the
Company's SEC filings, including its annual report on
Form 20-F filed on April 28, 2014. Although the Company
believes that the expectations reflected in its 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.
SOURCE Canadian Solar Inc.