GUELPH, Ontario, Jan. 9, 2018 /PRNewswire/ -- Canadian Solar Inc.
(the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the
world's largest solar power companies, today announced it plans to
partner with Photowatt, a subsidiary of EDF Energies Nouvelles and
ECM Greentech, a group that is in the forefront of silicon
crystallization equipment and process in France.
The three companies intend to set up a joint venture ("JV")
specialized in low-carbon production of advanced technology silicon
ingots and wafers in France. EDF Energies Nouvelles through
its subsidiary Photowatt, Canadian Solar and ECM Greentech would
own 60%, 30% and 10% of the equity in the JV respectively.
The JV partners are pioneers in high performance of casting mono
technology, which gives the JV the potential to deliver the
mono-crystalline silicon solar performance at the multi-crystalline
cost. Meanwhile, the technology developed by the JV partners
would contribute to one of the
lowest carbon footprints in manufacturing solar
products. France is a leader
in low-carbon ingot and wafer production.
"This cooperation is a win-win for each party involved. The
French government's ongoing annual solar energy program of 2,500
MWp tendering, together with EDF Group's target of building 30 GWp
of solar projects in France
between 2020 and 2035 will create great opportunities for solar
energy market there. We are happy to participate in the leading development of
this next generation of low carbon solar energy production.
Canadian Solar has over 16 years of manufacturing experience in
the solar industry and has deployed over 25 GWs of solar
modules around the world. This new carbon technology, coupled with
high efficiency will speed up the energy generation grid parity,"
commented Dr. Shawn Qu, Chairman and
Chief Executive Officer of Canadian Solar Inc.
The establishment of the JV is being reviewed and subject to the
clearance by the relevant competition authorities.
About Photowatt
EDF ENR PWT ("Photowatt") has been a pioneer in the solar
industry for nearly 40 years. The company designs and produces
photovoltaic modules based on crystalline silicon technology for
various types of applications, from residential equipment to
ground-based solar power plants. Photowatt is a subsidiary of EDF
Energies Nouvelles.
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
About ECM Greentech
ECM Greentech, SA provides technology, equipment and turnkey
plants in the field of renewable energy and energy storage. ECM as
a group has been at the forefront of silicon crystallization
equipment and processed for the worldwide photovoltaic industry
since 1983.
ECM Greentech is headquartered in Grenoble France and operates
as a subsidiary of ECM Technologies SA. ECM Technologies is
involved as a thermal equipment and process provider in various
industries such as automotive, aircraft, medical and
semiconductor."
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 25 GWs 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.
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.