SAN RAMON, Calif., Feb. 24, 2014 /PRNewswire-FirstCall/ -- Canadian
Solar Inc., (the "Company", or "Canadian Solar") (NASDAQ: CSIQ),
one of the world's largest solar power companies, today announced
it was selected by Strata Solar to power five utility scale
projects totaling 30 MW.
The five North Carolina
projects are located in Orange,
Lincoln, Union, Rockingham and Caswell counties. The power plants will power
approximately 3,750 households, many of which are located in
agricultural areas.
Strata Solar anticipates that collectively, the systems will
eliminate 21,120 metric tons of CO2 emissions, the
equivalent of removing 3,900 vehicles from the road. Farming
families, in particular, can benefit from adopting solar energy, as
it helps offset energy costs, which can impact operational
profitability.
"These solar farms continue to showcase the capabilities of
Canadian Solar products in our portfolio of utility projects," said
Markus Wilhelm, Chief Executive
Officer of Strata Solar.
"We have been very impressed with Canadian Solar; from product
to personnel. Canadian Solar delivers on its promises, which is the
kind of partner you need when you are constructing solar energy
farms on tight deadlines to exacting standards," he added.
118,860 Canadian Solar polycrystalline modules were used for the
projects. Furthermore, Canadian Solar's polycrystalline modules
were awarded the highest PTC ratings in the solar industry. PTC
Ratings, calculated by the California Energy Commission (CEC), are
universally accepted as the most accurate determination of a solar
module's power output performance.
"The scale and sheer impact of these five projects is a
testament to the dynamic partnership between Canadian Solar and
Strata Solar. Our team is particularly honored by the fact
that one of the projects is located in the home-county,
Orange of Strata Solar and is the
largest installation in their neighborhood," said Dr. Shawn Qu, Chairman and Chief Executive Officer
of Canadian Solar Inc.
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 6
GW 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.
About Strata Solar, LLC.
Strata Solar is a national leader of utility scale solar energy
systems and installations. Strata's unique, low impact,
standardized approach to solar farm creation is supported through
its vertical divisions, which offer complete turnkey services for
the design, construction and installation of utility and commercial
photovoltaic systems. Strata also offers a full array of
development, engineering, procurement, construction, operation and
maintenance services to companies interested in clean renewable
energy. Headquartered in Chapel
Hill with an expansive O&M facility nearby. For more
information, please visit www.StrataSolar.com
Canadian Solar's Safe Harbor/Forward Looking
Statement
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 risks regarding 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 in the Canadian markets; changes in customer
order patterns; capacity utilization; pricing pressure and declines
in average selling prices; delays in utility-scale project approval
process; delays in utility-scale project construction; 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,
2013. 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.
SOURCE Canadian Solar Inc.