Canadian Solar is well positioned with a strong brand, a solid track record of execution and the industry's leading module warranty backed by third party insurance to participate in the growth of this important emerging market.
GUELPH, Ontario, Nov. 12, 2013 -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that it has been awarded a module supply agreement to provide China Perfect Machinery Industry Corp. with 32 MW of solar photovoltaic ('PV') modules for a solar power plant project in China.
"We have been very selective about our module suppliers and we have chosen to work with Canadian Solar as we believe in its rich industry experience and reputation as a reliable partner," commented Chen Wei, General Manager of Operation Department, China Perfect Machinery Industry Corp.
"Our agreement with China Perfect Machinery Industry is another major step in our effort to expand our market presence in China," said Dr. Shawn Qu, President, Chairman and Chief Executive Officer of Canadian Solar. "Clearly, demand for solar modules in China is picking up nicely in the fourth quarter of 2013, with improving pricing and more attractive payment terms and we remain optimistic China will be the largest solar PV market this year and in the foreseeable future. Canadian Solar is well positioned with a strong brand, a solid track record of execution and the industry's leading module warranty backed by third party insurance to participate in the growth of this important emerging market."
Canadian Solar will supply its CS6X-P modules with power output of 295 and 300Wp for the project. CS6X-P modules outperform competing 72 polycrystalline cell module brands in the market, producing over 4% more power annually according to PVsyst PV system simulation. In addition, all Canadian Solar modules come with a 10 year material warranty and a 25 year linear power output performance guarantee backed by a third-party insurance policy under-written by leading insurance companies. Module delivery is expected to be completed in November 2013.
About China Perfect Machinery Industry Corp.
China Perfect Machinery Industry Corp ("CPMIC") is a company that focuses on domestic and international trade, real estate development, and project contracting. Headquartered in Shanghai, CPMIC owns 14 majority holding companies, with nearly 500 employees. CPMIC has taken engineering general contracting and project management services as the strategic business, and actively explores its EPC capabilities in order to effectively respond to market opportunities.
About Canadian Solar
Founded in 2001 in Canada, Canadian Solar Inc. (NASDAQ: 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.