Canadian Solar: 4 New Regional Projects in Great Britain
London - Canadian Solar, one of the world's largest solar companies, today announced that it has been working with leading solar project developer, Lightsource Renewable Energy Limited, in the completion of four solar power plants throughout England. The new ground-mounted PV plants were built in Cornwall (Bodmin), Lincolnshire (Spalding) and Somerset (Taunton), with a combined capacity of 6.4 MW.
"With its ease of installation and speed of deployment, solar energy continues to offer benefits to all involved and the Spalding installations, which were built on a Butterfly and Wildlife Park, are a great example of how large scale solar farms can be integrated into the countryside successfully," said Nicholas Boyle, CEO of Lightsource. "As our pipeline continues to develop, we see the UK having great potential for further solar power generation. Clean, renewable and reliable solar power will be vital in contributing to the UK's commitment to reducing carbon emissions."
Lightsource is currently one of the largest owners and developers of solar photovoltaic energy in the UK with over 38 MW of operational solar projects. Working to a time scale of 9-12 weeks to complete the projects, Canadian Solar was selected to work on the projects on the basis of its competitive price/performance ratio and high performing, quality products.
"We share our partner's commitment to the expansion of solar power. Throughout the project we were confident that we could meet the ambitious installation schedule given our extensive track record in other similar installations and the confidence we had in working with Lightsource, a high calibre partner on these projects," commented Dr Shawn Qu, Chairman and CEO of Canadian Solar. "We look forward to continuing to promote the expansion of solar power in the UK."
Lightsource Renewable Energy Limited is a major British Solar energy developer and operator with a number of projects currently under construction throughout the country. Lightsource is UK based with a growing development team of experienced solar engineers, planners, and project managers. Founded in 2010, the company has made rapid progress over the past two years, establishing itself as the pre-eminent player in the UK Solar PV sector.
About Canadian Solar
Canadian Solar Inc. (NASDAQ: CSIQ - News) is one of the world's largest solar companies. As a leading vertically integrated provider of ingot, wafer, solar cell, solar module and other solar applications, Canadian Solar designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use to customers worldwide. With operations in North America, Europe, Australia and Asia, Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar solutions to support global, sustainable development. For more information, please visit www.canadiansolar.com.
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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 the previously disclosed SEC investigation as well as 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 Germany; 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; 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 May 17, 2011. 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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