GUELPH,
Ontario, Sept. 1, 2022 /PRNewswire/ -- Canadian
Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ:
CSIQ) today announced it was awarded a 253 MWp solar plus
1,000 MWh battery energy storage project ("Zaldivar Project") in
Chile's public tender CNE 2022/01
held by Chile's Energy National
Commission (CNE) in July 2022. The
CNE awarded a total of 777 GWh/year of new generation backed by
three different new renewable projects, of which the Zaldivar
Project will account for 16%.
The Zaldivar Project, located in Antofagasta Region, is
currently at mid-stage development. The project is expected to
start construction in 2024 and reach commercial operation in 2026.
Once in operation, part of the electricity generated by solar will
be purchased by a pool of distribution companies under 15-year U.S.
dollar-dominated power purchase agreements (PPAs), and the
remaining will be purchased by private energy off-takers.
Importantly, the Zaldivar Project will contribute meaningfully
to Chile's carbon emissions
reduction targets, while improving the reliability of the local
grid. Specifically, it is expected to displace more than 263,000
tons of CO2 emissions each year. Additionally, the battery storage
component of the Zaldivar Project will help improve the reliability
and stability of Chile's grid by
providing firm capacity, ancillary services, and energy trading
services, while enhancing the long-term value of these projects by
creating diversified sources of revenue.
Dr. Shawn
Qu, Chairman and CEO of Canadian Solar,
commented, "Chile is one
of the most promising renewable markets in Latin America. This solar and battery storage
project awarded to Canadian Solar will reinforce our leading
position in Latin America,
particularly in Chile where
Canadian Solar has a backlog of 600 MWp of solar projects and 2.2
GWh of battery storage projects. We will continue to expand our
project pipeline in Chile, helping
the country meet its goal of achieving carbon neutrality by
2050."
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 21 years, Canadian Solar has
successfully delivered around 76 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 6.8 GWp in over 20
countries across the world. Currently, the Company has 311 MWp of
projects in operation, 5.3 GWp of projects under construction or in
backlog (late-stage), and an additional 21 GWp of projects in
advanced and early-stage pipeline. 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, regulatory
and economic conditions and the state of the solar and battery
storage market and industry; geopolitical tensions and conflicts,
including impasses, sanctions and export controls; volatility,
uncertainty, delays and disruptions related to the COVID-19
pandemic; supply chain disruptions; 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, Brazil
and India; changes in effective
tax rates; changes in customer order patterns; changes in product
mix; changes in corporate responsibility, especially environmental,
social and governance ("ESG") requirements; capacity utilization;
level of competition; pricing pressure and declines in or failure
to timely adjust 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 and inflation
rate fluctuations; uncertainties related to the CSI Solar carve-out
listing; litigation and other risks as described in the Company's
filings with the Securities and Exchange Commission, 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.
|
csiq@globalirpartners.com
|
investor@canadiansolar.com
|
Tel:
+1-914-337-8801
|
View original
content:https://www.prnewswire.com/news-releases/canadian-solar-awarded-253-mwp-solar-plus-1-000-mwh-battery-energy-storage-project-in-chile-public-tender-301616237.html
SOURCE Canadian Solar Inc.