GUELPH, Ontario, Jan. 9, 2014 /PRNewswire-FirstCall/ — Canadian Solar Inc. (CSIQ) (the “Company,” or “Canadian Solar”), one of the world’s largest solar power companies, today announced the successful completion and grid connection of a 10 MW ground mounted solar power project in Sihong County of Jiangsu Province in eastern China. This project was developed by CSI Solar Power (China) Inc., a subsidiary of Canadian Solar, with Gaochuangte New Energy as the EPC contractor.
Construction on the project commenced in September 2013 and grid connection was completed in December 2013. Approximately 40,788 CS6P-245P modules with power output of 245Wp were used. The average annual electricity generation from this solar power plant is projected to be over 11 million KWh, which is expected to displace 8,657 tons of carbon dioxide, 67 tons of sulfur dioxide and 60 tons of nitrogen oxide each year. Over the next 25 years, the solar is expected to displace over 86 thousand tons of standard coal consumption while eliminating over 216 thousand tons of carbon dioxide, 1,655 tons of sulfur dioxide and 1,241 tons of nitrogen oxides.
“We are glad to announce the completion and grid connection of this project, following the one we completed in western China,” said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc. “This project is another good demonstration of Canadian Solar’s success in the development and construction of utility-scale solar power plants on a global basis as well our growing momentum in China, a rapid growing emerging market that is poised to become the world’s largest solar market in the years ahead.”
About Canadian Solar
Founded in 2001 in Canada, Canadian Solar Inc. (CSIQ) is one of the world’s largest and foremost solar power companies. As a leading vertically integrated provider of solar modules, specialized solar products and solar power plants with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia, Canadian Solar has delivered more than 5GW of premium quality solar modules to customers in over 70 countries. Canadian Solar is committed to improve the environment and dedicated to provide advanced solar energy products, solutions and services to enable sustainable development around the world. For more information, please 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 the risks regarding 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 in our project markets, including Canada; changes in customer order patterns; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; continued success in technological innovations and delivery of products with the features customers demand; utility-scale project approval process; delays in utility-scale project construction; 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 26, 2013. 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. You 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.