GUELPH, Ontario, November 18, 2014 /PRNewswire/ — Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world’s largest solar power companies, today announced that its modules will power a series of projects in Georgia totaling 5.1 MW with Atlanta-based solar developer and Engineering, Procurement and Construction ("EPC") provider SolAmerica Energy, LLC. As the sole provider of photovoltaic (PV) modules for these projects, Canadian Solar expects these projects to be completed in December of 2014.
Each of the projects will be owned by Citizens Energy Corporation of Boston pursuant to a development and EPC Agreement with SolAmerica Energy. All of the projects will utilize Canadian Solar CS6X-310-P photovoltaic (PV) modules, and the energy produced from the arrays will be sold to Georgia Power pursuant to the Georgia Power Advanced Solar Initiative.
The projects under construction include the following:
- Taylor County Industrial Park in Butler, Georgia: 1.8 MW ground mount
- Cook County Farm in Lenox, Georgia: 1.3 MW ground mount
- Terrell County Industrial Park in Dawson, Georgia: 1 MW ground mount
- Goolsby Farm in Terrell County, Georgia: 1 MW ground mount
R. Stanley Allen, President of SolAmerica, said, "As part of the 8 MW of solar projects that SolAmerica will develop and build in Georgia by the end of 2014, these projects will help grow the base of solar energy in Georgia. Based on the performance and reliability of Canadian Solar PV modules in previous projects we developed, we hold full confidence in their product performance."
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, "Canadian Solar is pleased to be working with SolAmerica on these solar projects in Georgia. We await their completion very soon and also look forward to future projects with SolAmerica in the Southeast United States."
About Canadian Solar Inc.
Founded in 2001 in Ontario, Canada, Canadian Solar is one of the world’s largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar has an industry leading and geographically diversified pipeline of utility-scale solar power projects as well as a track record of successful solar deployment boasting over 7 GW of premium quality modules installed in over 70 countries during the past decade. Canadian Solar is committed to providing high-quality solar products and solar energy solutions to customers around the world. For more information about our company, products and projects please visit www.canadiansolar.com.
About SolAmerica Energy, LLC
Founded in 2009, SolAmerica Energy, LLC is a leading Developer, EPC, and Operations & Maintenance Provider of solar photovoltaic (PV) projects for commercial, industrial, and government clients. SolAmerica’s core competencies include site assessment, solar finance, system design and engineering, procurement, turnkey installation, testing, system monitoring, and operations and maintenance. With offices in Atlanta, Georgia and Charlotte, NC, SolAmerica has extensive experience delivering high-profile solar projects in the Southeast and Mid-Atlantic regions of the United States. For additional information about SolAmerica, visit www.solamericaenergy.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 solar grade silicon; demand for solar 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, including Canada, the U.S., Japan and China; changes in customer order patterns; capacity utilization; level of competition; pricing pressure and declines in average selling price; 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; utility-scale project construction delays; utility-scale project cancelation due to failure to obtain all the necessary permits; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; trade protectionism in Europe, the U.S. and India; litigation and other risks as described in the Company’s SEC filings, including its annual report on Form 20-F filed on April 28, 2014. Although the Company believes that the expectations reflected in its 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.