GUELPH,
ON, Feb. 29, 2024 /PRNewswire/ -- Canadian
Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ)
announced today its pivotal role in powering the Super Bowl LVIII
that was held at Allegiant Stadium
in Las Vegas, Nevada on February 11,
2024. The first-ever Super Bowl to be powered
entirely by renewable energy, this historic event sourced
electricity from the Arrow Canyon solar and energy storage project
in Nevada.
Developed, owned, and operated by EDF Renewables, the Arrow
Canyon project uses more than 600,000 Canadian Solar photovoltaic
solar modules. With a capacity of 275 MW, complemented by a battery
energy storage (BESS) facility, the project ensured a seamless and
sustainable power supply throughout the Super Bowl.
The Allegiant Stadium's use of solar power to meet the energy
demands of one of the U.S. sports industry's showpiece events
highlights the viability of renewable energy sources in powering
major events and facilities. For both the U.S. and global markets,
the success of this event represents a significant milestone in the
transition toward a sustainable energy future.
Mr. Tristan Grimbert, President and CEO of EDF
Renewables North America, said, " We are thrilled that our
Arrow Canyon project successfully powered the first Super Bowl
using renewable energy. However, what truly excites us is the
attention it has brought to the viability and dependability of
coupling solar power with advanced storage technologies, showcasing
how renewable energy can seamlessly meet the demands of large-scale
events and critical infrastructure. This achievement serves as a
testament to the progress we have made in the renewable energy
sector and reinforces our commitment to driving the transition
towards a greener and more sustainable future."
Thomas Koerner, Senior Vice
President of Canadian Solar, expressed his enthusiasm, stating,
"We are honored to have been selected by EDF Renewables as the
solar module provider for the Arrow Canyon project and to
contribute to such a groundbreaking moment in sports history. This
achievement underscores Canadian Solar's commitment to advancing
renewable energy solutions and demonstrates the effectiveness of
solar technology in meeting the energy needs of large-scale
events."
About EDF Renewables North America
EDF Renewables North America is a market leading
independent power producer and service provider with 35 years of
expertise in renewable energy. The Company delivers grid-scale
power: wind (onshore and offshore), solar photovoltaic, and storage
projects; distribution-scale power: solar and storage; asset
optimization: technical, operational, and commercial expertise to
maximize performance of generating projects, and onsite solutions,
through the Company's PowerFlex subsidiary, offering a full suite
of onsite energy solutions for commercial and industrial customers:
solar, storage, EV charging, energy management systems, and
microgrids. EDF Renewables' North American portfolio
consists of 18 GW of developed projects and 14.6 GW under service
contracts. EDF Renewables North America is a subsidiary
of EDF Renewables, the dedicated renewable energy affiliate of
the EDF Group. For more information
visit: www.edf-re.com. Connect with us
on LinkedIn, Facebook and Twitter.
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 110 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 around 9.3 GWp of
solar power projects and over 3 GWh of battery storage projects
across the world. Currently, the Company has around 850 MWp of
solar projects in operation, nearly 7.8 GWp of projects under
construction or in backlog (late-stage), and an additional 18.7 GWp
of projects in advanced and early-stage pipeline. In
addition, the Company has a total battery storage project
development pipeline of approximately 55 GWh, including
approximately 5 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; 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 Contact
Wina Huang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com
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SOURCE Canadian Solar Inc.