GUELPH, ON, Jan. 5, 2021 /PRNewswire/ -- Canadian Solar
Inc. ("Canadian Solar") (NASDAQ: CSIQ) today announced
it has sold an ownership interest in its Hays and Jenner solar projects to BluEarth Renewables
("BluEarth"). BluEarth will also assume management responsibilities
of the projects. Located in southeast Alberta, both projects are 31 MWp (23
MWAC) in size. The projects are co-owned by Conklin
Métis Local 193, an indigenous community based in the rural
hamlet of Conklin and part of the Athabasca Oil Sands
region in eastern Alberta. Both projects are
expected to start commercial operation in 2021.
"This is our third transaction with BluEarth and given their
strong Alberta presence and deep
experience in operating and maintaining large-scale clean energy
projects, we believe they are the right owners for the Hays and Jenner solar projects. These
projects together will generate clean electricity for tens of
thousands of Alberta homes each
year," said Dr. Shawn
Qu, Chairman and
CEO of Canadian Solar. "We thank BluEarth for
their continued trust and for seeing the value that these
best-in-class solar projects will provide to their customers
and to the citizens of Alberta, furthering a leadership role in
the clean energy transition."
"Alberta is home to some of the
best solar power resource in Canada and we look forward to bringing these
projects to market with our partner, Conklin Métis Local 193,"
commented Grant Arnold, President
and CEO of BluEarth. "As we exit 2020, we're pleased this
transaction came together with Canadian Solar, expanding BluEarth's
solar portfolio in southern Alberta and bringing our combined solar
capacity to 233 MWAC (183 MWAC net)."
"Conklin Métis Local 193 congratulates Canadian Solar on the
sale of its interest. We look forward to working with BluEarth in
moving ahead with the Hays and
Jenner projects," commented
Shirley Tremblay, President of
Conklin Métis Local 193.
The Hays and Jenner solar projects will use Canadian
Solar's bifacial modules and single-axis trackers, further
commercializing this technology in Canada after being first deployed on Canadian
Solar's Suffield Solar Project, which is now owned by BluEarth.
For more information about the Hays and Jenner solar projects, please visit
BluEarth's website.
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 19 years, Canadian Solar has
successfully delivered over 49 GW of premium-quality, solar
photovoltaic modules to customers in over 150 countries. Likewise,
since entering the project development business in 2010, Canadian
Solar has developed, built and connected over 5.6 GWp in over 20
countries across the world. Currently, the Company has over 500 MWp
of projects in operation, over 5 GWp of projects under construction
or in backlog (late-stage), and an additional 11 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.
About Recurrent Energy
Recurrent Energy is a leading utility-scale solar and storage
project developer, delivering competitive, clean electricity to
large energy buyers. Based in the U.S., Recurrent Energy is a
wholly owned subsidiary of Canadian Solar Inc. and functions as
Canadian Solar's U.S. project development arm. Recurrent Energy has
approximately 5 GW of solar and storage projects in development in
the U.S. Additional details are available at
www.recurrentenergy.com.
About BluEarth Renewables
BluEarth Renewables brings together extraordinary people with
the power to change the future™ by delivering renewable energy to
the power grid every day. We are a leading, independent, power
producer that acquires, develops, builds, owns and operates wind,
hydro and solar facilities across North
America. Our portfolio includes 418 MW net (513 MW gross) of
nameplate capacity in operation and under construction and over
2,000 MW under development. For more information, visit
bluearthrenewables.com or follow us on Twitter, LinkedIn and
Facebook.
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;
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; delays in the process of
qualifying to list the MSS 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; 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 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.
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SOURCE Canadian Solar Inc.