GUELPH,
ON, Nov. 3, 2022 /PRNewswire/ -- Canadian
Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ:
CSIQ) today announced that its majority-owned subsidiary CSI
Solar Co., Ltd. ("CSI Solar") has recently obtained France's Simplified Carbon Assessment
("Evaluation carbone simplifiée" or "ECS") certification and
Italy's Environmental Product
Declaration ("EPD") certification for its high-efficiency
mono-facial and bifacial modules, using 182mm and 210mm silicon
wafers. These environmental certifications show that Canadian
Solar's modules have some of the lowest carbon footprints among
crystalline solar modules in the market and will play a critical
role in supporting customers' decarbonization goals.
The French ECS certification measures the direct and indirect
carbon emissions of a solar module generated from its whole
production process and upstream transportation, covering
polysilicon, ingots, wafers, cells, and auxiliary materials. The
ECS certification follows the ISO14040 and ISO14044 Life Cycle
Assessment standards. According to the ECS certification, Canadian
Solar's high-efficiency N-type HJT HiHero module's carbon emissions
are below 400 kg/kWp, and that of its mono-PERC solar modules using
182mm and 210mm silicon wafers are below 500 kg/kWp. This is well
below the industry average of around 500-550 kg/kWp.
Separately, the Italian EPD certification takes a slightly
different approach to carbon footprint assessments. It is a
comprehensive, internationally recognized report that documents the
environmental impact of a solar module throughout its full life
cycle, from upstream raw material mining, productions to the
downstream installation, operation, maintenance, and end-of-life
management, also covering upstream and downstream transportation.
EPD focuses on the assessment of carbon emissions, energy
consumption, and waste generation of a solar module, following
ISO14040 and ISO14044 Life Cycle Assessment standard, as well as
ISO14025 and EN15804 standards. The EPD certification is
crucial for solar project developers and investors to evaluate the
return on energy or ROE of solar power plants. The ROE is
calculated as dividing the total amount of energy required to
produce the solar modules installed by annual electricity
generation of these installed modules, and Canadian Solar's modules
are one of the most attractive in the market.
Dr. Shawn Qu, Chairman
and CEO of Canadian Solar commented, "We are pleased to
have obtained these two European environmental certifications that
will make our products more attractive in the European and other
markets where environmental sustainability is a key focus.
Europe is one of our global key
markets, accounting for around 25% of our total module shipments in
the second quarter of 2022. With these environmental
certifications, we expect to further expand our global market
share, especially in the European markets where we have seen
meaningful increase in demand for clean, reliable, and affordable
solar energy."
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 around 311
MWp of solar projects in operation, 5.3 GWp of projects under
construction or in backlog (late-stage), and an additional 21 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, 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
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SOURCE Canadian Solar Inc.