GUELPH,
ON, May 17, 2022 /PRNewswire/ -- Canadian
Solar Inc. ("Canadian Solar", "the Company") (NASDAQ: CSIQ)
today announced that its wholly-owned subsidiary Canadian Solar
Projects K.K. together with its owned special purpose vehicles
(SPVs), topped the ranking of cumulative capacity of solar projects
awarded under Japan's feed-in
tariff (FIT) auction program since its launch in 2017, according to
a latest research published by Clean Tech Lab, Nikkei BP
Intelligence Group. Canadian Solar's cumulative successful bids of
180 MWac under the FIT auction program is nearly twice of that of
the second ranked.
Canadian Solar entered the Japanese market more than a decade
ago in both solar project development and solar module sales. The
Company has executed on around 350 MWp solar projects in
Japan since 2011 and has a backlog
of 345 MWp, including 174 MWp under construction as of January 31, 2022. As one of the most well-known
brands in Japan, Canadian Solar
has delivered over 5.5 GW of high-quality modules to residential,
commercial, and utility-scale customers since 2009.
Dr. Shawn Qu, Chairman and
CEO of Canadian Solar commented, "Our number one position in
cumulative market share in Japan's
FIT auction program demonstrates our competitiveness in that
market. I would like to thank our team for their efforts and solid
execution. We remain committed to the Japanese solar market, where
we foresee a strong PPA demand. We will leverage our expertise and
leadership in both project development and solar modules sales to
provide more clean and safe renewable energy in Japan."
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, including those
regarding the Company's expected future shipment volumes, revenues,
gross margins and project sales, and CSI Solar's forecast operating
income and net profit, 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.,
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; continued success in technological
innovations and delivery of products with the features that
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 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. Investor Relations Contacts
Isabel Zhang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com
David Pasquale
Global IR Partners
Tel: +1-914-337-8801
csiq@globalirpartners.com
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SOURCE Canadian Solar Inc.