GUELPH, ON, Aug. 4, 2020 /PRNewswire/ -- Canadian Solar Inc.
("Canadian Solar" or the "Company") (NASDAQ: CSIQ) announced today
it commenced the construction of the 10 MWp Groß Siemz solar
power plant in Germany.
The project is located on an 11-hectare area next to the highway
A20 Groß Siemz, near the city Schönberg in Mecklenburg-Western
Pomerania, Northern Germany.
Canadian Solar is the turnkey solutions provider for the PV plant,
responsible for most of the project execution including the design,
engineering, procurement and construction, and will be powering the
solar plant with over 22,900 pieces of Canadian Solar
high-efficiency mono-PERC modules. GS Solar GmbH & Co. KG, the
customer and project owner, will connect the plant to the grid in
October 2020 and Canadian Solar will
provide the operations & maintenance ("O&M") services.
Once operational, the PV plant will generate approximately 10
GWh of clean and reliable solar energy annually, enough to meet the
needs of over 3,000 households. Through the project lifetime, it is
expected to displace approximately 90,000 metric tons of
Dr. Shawn Qu, Chairman and CEO,
commented, "As a top-tier solar module brand and global project
developer with strong technical and financing capabilities,
providing turnkey solutions and O&M services is a natural
extension of Canadian Solar's unique value proposition. We now have
more than 3 GW of operational or contracted O&M agreements
across the world. We are proud to share our extensive expertise in
the solar industry and to provide one-stop-shop solutions to our
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar
power companies. It is a leading manufacturer of solar photovoltaic
modules and provider of solar energy solutions and has a
geographically diversified pipeline of utility-scale solar power
projects in various stages of development. Over the past 19 years,
Canadian Solar has successfully delivered over 43 GW of
premium-quality, solar photovoltaic modules to customers in over
160 countries. 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.
Canadian Solar's Safe Harbor/Forward-Looking
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;
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; delays in
the completion of project sales; 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 Form 20-F filed
on April 28, 2020. 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.
SOURCE Canadian Solar Inc.