GUELPH,
ON, May 10, 2022 /PRNewswire/
-- Canadian Solar Inc. (the "Company", or
"Canadian Solar") (NASDAQ: CSIQ), today announced that it has
recently received from DNV "Canadian Solar HiKu7 and BiHiKu7
Technology Review Report ". DNV concludes in the Report that
Canadian Solar's 210-mm cell based HiKu7 and BiHiKu7 modules, with
power output up to 670W, are highly reliable, of top quality and
with 3% lower LCOE (Levelized Cost of Energy).
Founded in Oslo, Norway in
1864, DNV is a world leading independent third-party expert in
product certification, risk management and assurance.
DNV has carried out a comprehensive review of the HiKu7 and
BiHiKu7 modules, assessing them on the production process,
performance, reliability, and the LCOE analysis.
- DNV audited the entire manufacturing process of the mono-facial
HiKu7 and bifacial BiHiKu7 modules, including the incoming
materials management, processes, quality control, etc.. DNV rated
Canadian Solar at A+ for the HiKu7 and BiHiKu7 product lines.
- DNV noted that HiKu7 and BiHiKu7 modules possess
industry-leading module efficiencies of up to 21.6%, a Pmax
(Nominal Max. Power) temperature coefficient of -0.34%/℃.The LID
and LeTID are controlled at 0.5% or less for the modules through
improved manufacturing recipes and tighter material specifications.
These indicate that the expected field performance of these modules
would be better than that of typical commercial modules.
- DNV reviewed Canadian Solar's reliability assurance program
(including on-going reliability testing), component-level testing
for service life, and mechanical testing. These testing include but
not limited to thermal cycling with 400 cycles, damp heat with
2,000 hours, PID with 192 hours, double IEC testing standards.
After these stringent testing, the above-mentioned modules show a
power loss less than 2%.
- A solar power system with BiHiku7 will require fewer pieces of
modules, thus fewer BOS (Balance of System) components, and an
overall reduction in system CAPEX and LCOE.
With module efficiencies of up to 21.6%, A+ factory rating, and
exceptional performance and durability testing results, DNV
recommends a useful life assumption of 35 to 45 years in financial
modeling for projects using Canadian Solar BiHiKu7
modules.
Dr. Shawn Qu, Chairman
and CEO of Canadian Solar, remarked, "I am glad our HiKu7
and BiHiKu7 modules are appraised by DNV independently on product
reliability, LCOE and manufacturing quality. The results verify
Canadian Solar's advanced module technologies and strict quality
control system. We are committed to providing the best
performance/price ratio products to our customers around the
world."
Click and download the Executive Summary on Canadian
Solar HiKu7 and BiHiKu7 Technology Review Report
About DNV
DNV is the independent expert in assurance and risk management.
Driven by its purpose, to safeguard life, property and the
environment, DNV empowers customers and stakeholders with facts and
reliable insights so that critical decisions can be made with
confidence. For more information,
visit https://www.dnv.com/.
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar
technology and renewable energy companies. It is a leading
manufacturer of solar photovoltaic modules, provider of solar
energy and battery storage solutions, and developer of
utility-scale solar power and battery storage projects with a
geographically diversified pipeline in various stages of
development. Over the past 20 years, Canadian Solar has
successfully delivered over 67 GW of premium-quality, solar
photovoltaic modules to customers across the world. Likewise,
since entering the project development business in 2010, Canadian
Solar has developed, built and connected over 6.3 GWp in over 20
countries across the world. Currently, the Company has around 445
MWp of solar projects in operation, nearly 6 GWp of projects under
construction or in backlog (late-stage), and an additional 18.6 GWp
of projects in pipeline (mid- to early- stage). Canadian Solar
is one of the most bankable companies in the solar and renewable
energy industry, having been publicly listed on the 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 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 filings with the Securities and Exchange
Commission (the "SEC"), including its annual report on Form 20-F
filed on April 28, 2022. 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.
Canadian Solar Inc. Contacts
Isabel Zhang
|
David
Pasquale
|
Investor
Relations
|
Global IR
Partners
|
Canadian Solar
Inc.
|
Tel:
+1-914-337-8801
|
investor@canadiansolar.com
|
csiq@globalirpartners.com
|
View original
content:https://www.prnewswire.com/news-releases/canadian-solars-high-power-modules-up-to-670w-recognized-as-top-quality-high-reliability-and-low-lcoe-by-dnv-301543502.html
SOURCE Canadian Solar Inc.