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SOURCE Canadian Solar Inc.
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.
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