SOURCE: Canadian Solar

Canadian Solar

June 09, 2009 06:30 ET

Canadian Solar Completes Two Solar Demonstration Projects for Suzhou City Hall in China

TORONTO--(Marketwire - June 9, 2009) - Canadian Solar Inc. ("the Company," "Canadian Solar" or "we") (NASDAQ: CSIQ) today announced the successful completion of two solar demonstration projects on the Suzhou Municipal City Hall with a combined system size of 29.5 kWp.

Dr. Shawn Qu, Chairman and CEO, remarked, "We are very proud to work with the Suzhou government. These two projects, conceptualized last year, were invested in by the Suzhou municipality government alone and before the introduction of subsidies for solar photovoltaic building applications in China by the Ministry of Finance in March 2009. The Suzhou government is one of the leading municipal governments in China to realize the importance of promoting the PV industry for its sustainable growth portfolio."

The Suzhou City Hall solar demonstration projects are composed of 96 solar powered light posts and two solar powered parking lots for electric scooters. The solar light posts are designed to provide power at night for 4 to 6 consecutive nights and under rainy or cloudy weather conditions. Canadian Solar engineers designed a dual system so that it will automatically switch from solar to grid electricity working mode when the battery voltage is low, but switch back to solar power mode when the batteries are charged. The two solar powered parking lots for electric scooters can each charge 50 scooters on a sunny day through inverters. Storage batteries are not required. On cloudy or rainy days, the solar charging system will automatically switch to grid electricity.

About Canadian Solar Inc. (NASDAQ: CSIQ)

Founded in 2001, Canadian Solar Inc. (Canadian Solar) is a vertically integrated manufacturer of solar cell, solar module and custom-designed solar application products serving customers worldwide. Canadian Solar is incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years of experience and knowledge in the solar power market and the silicon industry, Canadian Solar has become a major global provider of solar power products for a wide range of applications. For more information, please visit http://www.canadian-solar.com.

Safe Harbor/Forward-Looking Statements

Certain statements in this press release including statements regarding expected future financial and industry growth 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 shortage or availability of the supply 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, including customers of our silicon materials sales; changes in demand from major markets such as Germany; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling price; delays in new product introduction; 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 originally filed on June 8, 2009. 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.

Contact Information

  • Contacts:
    In Canada
    Alex Taylor
    IR Director
    Canadian Solar Inc.
    Tel: +1-905-530-2334
    Email Contact

    In the U.S.
    David Pasquale
    Global IR Partners
    Tel: +1-914-337-8801
    Email Contact