GUELPH, ON, April 12, 2021 /PRNewswire/ -- Canadian Solar
Inc. (the "Company", or "Canadian Solar")
(NASDAQ: CSIQ), today announced that it has started mass production
of high-power, high-efficiency modules with power output of up to
665 W.
The new generation of monofacial HiKu7 and bifacial
BiHiKu7 modules are based on 210 mm cells and are set to
deliver one of the most competitive levelized cost of electricity
(LCOE) in the industry by reducing balance of system (BOS) and
other costs for solar power plants. These modules have been
optimized with leading tracker and inverter designs to ensure
seamless installation of solar systems.
The nameplate production capacity of the HiKu7 and BiHiKu7 modules will reach 10
GW by the end of 2021, of which a
significant portion has already been booked. The Company
will deliver the first batch of the new high-power, high-efficiency
modules this month.
The HiKu7 and BiHiKu7 modules are expected to solidify Canadian
Solar's technology leadership by offering:
- Power classes of up to 665 W and module efficiencies of up to
21.4%.
- Commercial deployment of Canadian Solar's proprietary cell
technology and module design, including hetero-type ribbon (HTR)
and paving technology. Both technologies reduce the gap between
solar cells by more than 50%, thereby increasing the power output
of solar modules over the same area.
- Further reduction of light-and elevated temperature-induced
degradation (LeTID) using Canadian Solar Advanced Regeneration
(CSAR) technology. This technology further reduces cell and module
power degradation under light and at high temperatures, increasing
power output of solar modules and lengthening their useful
lifetime.
- Excellent value for commercial and utility scale PV plants,
reducing balance of system costs by up to 5.7% and LCOE by up to
8.9% relative to mainstream 445 W modules.
- Certified by VDE according to IEC61215 and IEC61730 product
standards.
Dr. Shawn Qu, Chairman and CEO of Canadian
Solar remarked, "I am excited to announce that we have
begun mass production of the 210 mm cell-based HiKu7 and BiHiKu7
modules, which marks another milestone for Canadian
Solar as the leader in high power cell and module
technologies. With up to 665 W capacity, these modules will further
reduce the LCOE of solar energy generated and increase the energy
yield of solar plants. These modules also have high
reliability with several special technologies, such as damage-free
cell cutting, strict hot spot control, and low LeTID technology,
etc. These product and technological innovations will continue to
boost solar project returns, further improve solar energy's
competitiveness and accelerate the global clean energy
transition."
To learn more, register here to join our product
webinar on April 15, 2021.
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 19 years, Canadian Solar has
successfully delivered over 52 GW of premium-quality, solar
photovoltaic modules to customers in over 150 countries. Likewise,
since entering the project development business in 2010, Canadian
Solar has developed, built and connected over 5.7 GWp in over 20
countries across the world. Currently, the Company has over 500 MWp
of projects in operation, over 5 GWp of projects under construction
or in backlog (late-stage), and an additional 11 GWp of projects in
pipeline (mid- to early- stage). 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 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; delays in the process of
qualifying to list the MSS subsidiary in the PRC; 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 28, 2020. 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.