GUELPH, Ontario, Sept. 19, 2018 /PRNewswire/ -- Canadian Solar
Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ), one of the
world's largest solar power companies, announced today it has been
awarded a contract to supply 164 MW of photovoltaic (PV) modules to
the 350 MWp Escatrón Solar power project owned by COBRA Group, a
subsidiary of ACS Group in Spain.
ACS Group will serve as the EPC provider of the project that was
awarded in the recent round of Spain's renewables auction in July 2018. Over 481,900 Canadian Solar's
high-efficiency MaxPower modules (CS6U-P 345/350 W) will be
installed. This 72-cell polycrystalline module is the best
solution for this large-scale project, as it offers
industry-leading cell technology and low power loss in cell
connections, which are the key factors for the success of the
project. Module shipments will commence in September 2018 and the project is expected to
reach commercial operation in 2019.
Dr. Shawn Qu, Chairman and Chief
Executive Officer of Canadian Solar commented, "We are delighted to
partner with COBRA and supply our high-efficiency modules to this
mega project in Spain. It is good
to see market demand has started to rebound in Europe and we look forward to delivering more
clean and affordable solar energy to the continent."
The Escatrón solar project is one of several large-scale solar
projects awarded in Spain's
renewable energy auction held in 2018. ACS Group had the
largest share of the solar projects awarded with around 1.55 GWp of
assigned capacity. The PV projects selected in the contest must
start delivering power in 2019.
About Canadian Solar
Founded in 2001 in Canada,
Canadian Solar is one of the world's largest and foremost solar
power companies. As a leading manufacturer of solar photovoltaic
modules and provider of solar energy solutions, Canadian Solar has
a geographically diversified pipeline of utility-scale power
projects in various stages of development. In the past 17 years,
Canadian Solar has successfully delivered over 29 GW of premium
quality modules to over 100 countries around the world.
Furthermore, Canadian Solar is one of the most bankable companies
in the solar industry, having been publicly listed on NASDAQ since
2006. For additional information about the Company, follow Canadian
Solar on LinkedIn or visit www.canadiansolar.com.
Canadian Solar 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 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 from major markets such as Japan, the
U.S., India and China; changes in customer order
patterns; changes in product mix; capacity utilization; level of
competition; pricing pressure and declines in 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 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 filed on April 26, 2018. 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.
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SOURCE Canadian Solar Inc.