GUELPH,
ON, Sept. 20, 2023 /PRNewswire/ -- Canadian
Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ)
announced today that it has successfully finalized approximately 4
GWp of solar module contracts during the 2023 RE+ show in
Las Vegas. The contracts are
expected to be serviced by both its upcoming Texas factory and its expanded Thailand module factory.
"Our cost competitive TOPBiHiKu7 bifacial TOPCon module has
received overwhelmingly positive market response as it gives
project developers, EPC customers and investors the secure and
long-term module supply they have been looking for. We are pleased
to be the partner of choice for multiple key stakeholders," said
Dr. Shawn Qu, Chairman and
CEO of Canadian Solar.
In addition, the newly launched EP Cube Lite also received a
positive market response, resulting in hundreds of new system
orders during RE+. These orders include both stand-alone
residential storage systems as well as full residential PV plus
storage system packages, including high efficiency Canadian Solar
residential PV modules.
The EP Cube Lite allows homeowners to lower their electricity
bills by shifting the use of lower-cost daytime energy to the
evening when rates are typically higher.
"Canadian Solar is one of the few companies capable providing a
fully integrated, self-developed and self-manufactured PV module
and energy storage system solutions for residential, commercial and
utility scale applications. This gives us a significant competitive
advantage over many single component offerings in the market,"
added Dr. Qu.
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 22 years, Canadian Solar has
successfully delivered over 102 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 9 GWp of solar power
projects and over 3 GWh of battery storage projects across the
world. Currently, the Company has approximately 700 MWp of solar
power projects in operation, 8 GWp of projects under construction
or in backlog (late-stage), and an additional 17 GWp of projects in
advanced and early-stage pipeline. In addition, the Company has a
total battery storage project development pipeline of 52 GWh,
including approximately 2 GWh under construction or in backlog, and
an additional 50 GWh at advanced and early-stage development.
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 Europe;
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 18, 2023. 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
+1 914-337-8801
csiq@globalirpartners.com
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SOURCE Canadian Solar Inc.