GUELPH,
Ontario and RIO DE JANEIRO,
Brazil, Nov.8, 2017 /PRNewswire/ -- Canadian Solar
Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ), one of the
world's largest solar power companies, and EDF Energies Nouvelles,
a global market leader in renewable energy, today announced that
the 191.5 MWp Pirapora I and 92.5 MWp Pirapora III solar energy
projects in Brazil, totaling 284
MWp, were commissioned in November 2017.
As part of the Pirapora projects (399 MWp), the Pirapora I and
III solar projects, located in the State of Minas Gerais in
Brazil, were each awarded a
20-year Power Purchase Agreement following respectively the second
and the first Reserve Energy Auctions, in 2015 and 2014.
Powered by 600 thousands and 290 thousands of Canadian
Solar's high-efficiency CS6U-P modules, the
Pirapora I plant and Pirapora III plant generates 392 GWh and
186 GWh of clean, reliable solar electricity per year respectively,
contributing towards Brazil's goal
of obtaining 23% of its energy from non-hydro renewable sources by
2030.
EDF Energies Nouvelles acquired 80% interest in each of the
191.5 MWp Pirapora I, 115 MWp Pirapora II and 92.5 MWp Pirapora III
projects from Canadian Solar. The Pirapora II project is
currently under construction and is expected to reach commercial
operation in mid-2018.
"We are pleased to announce the commissionings of the Pirapora I
and III projects, which are the first solar projects we have
connected to the grid in Brazil. We see strong potential in
the solar energy market in Brazil
and will continue to grow our project pipeline in the country to
meet the local demand for clean and affordable solar energy. EDF EN
is an important partner and we look forward to continuing our
successful partnership with more opportunities in Brazil and other countries." said Dr.
Shawn Qu, Chairman and Chief
Executive Officer of Canadian Solar Inc.
Antoine Cahuzac, EDF Group's
Senior Executive Vice President Renewable Energies, Chairman and
CEO of EDF Energies Nouvelles, added, "These new commissionings
constitute further evidence of our growth ambitions in Brazil, a key renewable energy market for the
EDF Group. It represents a new step toward the EDF Group's goal of
doubling its renewable capacity in France, and worldwide, by 2030 under its CAP
2030 company plan."
About Canadian Solar Inc.
Founded in 2001 in 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 also
has a geographically diversified pipeline of utility-scale power
projects in various stages of development. In the past 16 years,
Canadian Solar has successfully delivered over 22 GW of premium
quality modules to over 100 countries around the world.
Furthermore, Canadian Solar is one of the most bankable companies
in the solar industry, having been publicly listed on NASDAQ since
2006. For additional information about the company, follow Canadian
Solar on LinkedIn or visit www.canadiansolar.com.
About EDF Energies Nouvelles
EDF Energies Nouvelles is a market leader in renewable energy
electricity, with a portfolio of more than 10 GW gross installed
capacity focused for the most part on wind (onshore and offshore)
and solar photovoltaic energy. Mostly operating in Europe and North
America, EDF Energies Nouvelles continues its development by
taking strong positions in promising emerging areas such as
Brazil, China, India,
or South Africa, and North Africa and Gulf Cooperation Council
regions. The Company is also present in other segments of the
renewable energy market: marine energy, distributed energies and
energy storage. EDF Energies Nouvelles manages renewable energy
projects' development and construction as well as operation and
maintenance for its own account and for third parties. EDF Energies
Nouvelles is a subsidiary of the EDF Group dedicated to renewable
energy.
Visit us at www.edf-energies-nouvelles.com
Follow us on LinkedIn:
https://www.linkedin.com/company/edf-energies-nouvelles and Twitter
@EDFEN_officiel
Press contacts
Manon de Cassini-Hérail ▪ tel.: +33 (0)1 40 90 48 22 ▪ email:
manon.decassini-herail@edf-en.com
Clarisse Placidoux ▪ tel.: +33 (0)1 40 90 49 46 ▪ email:
clarisse.placidoux@edf-en.com
Canadian Solar Safe Harbor/Forward-Looking Statements
Certain statements in this press release regarding the Company's
expected future shipment volumes, gross margins, business prospects
and future results, 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 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 and China; 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; cancelation
of utility-scale feed-in-tariff contracts in Japan; 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 April 27, 2017. 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.
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SOURCE Canadian Solar Inc.