Canadian Solar Connects Its Tumushuke 30MW Solar Power Plant To The China State Grid
Guelph, ON/PRNewswire-FirstCall/ - Canadian Solar Inc.(NASDAQ:CSIQ) (the "Company," or "Canadian Solar"), one of the world's largest solar power companies, today announced the successful completion and grid connection of a 30 MW ground mounted solar power project inTumushuke City, Xinjiang Uyghur Autonomous Region in Western China. This project was developed byCSI Solar Power(China) Inc., a subsidiary of Canadian Solar Inc., with Gaochuangte New Energy as the EPC contractor.
Covering an area of about 100 hectares, the project is 9.5 kilometers away from the downtown area of Tumushuke City. Construction on the project commenced inJune 2013and ended inDecember 2013, with electricity generation starting in the late December of 2013. Approximately 129,600 Canadian Solar CS6P-235P modules with power output of 235Wp were used. With the annual electricity generation projected to be 41.97 million KWh, this solar power plant is expected to displace over 13.4 thousand tons of standard coal consumption every year, while reducing annual emissions of carbon dioxide, sulfur dioxide and oxides by over 35 thousand tons, 114 tons and 99 tons respectively.
"We are pleased to announce the completion and grid connection of this ground mounted project, which is so far the largest one we have completed in China. With the efforts of our strong and experienced project development team and the support of key financial institutions, we are well positioned to continue to execute on our solar power project pipeline inChinain the quarters ahead," commented Dr.Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. "As a leading global solar power solutions provider with a strong track record of execution, we remain committed to supporting the adoption of green solar energy inChinaand around the world."
About Canadian Solar
Founded in 2001 inCanada, 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 inNorth America,South America,Europe,Africa, theMiddle East,AustraliaandAsia, 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 visitwww.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 the 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 our project markets, includingCanada; changes in customer order patterns; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; continued success in technological innovations and delivery of products with the features customers demand; 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'sSECfilings, including its annual report on Form 20-F filed onApril 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, andCanadian Solarundertakes no duty to update such information, except as required under applicable law.
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