Canadian Solar's Partner Romano Wins Eskom Rooftop Project in Johannesburg
JOHANNESBURG, May 15, 2013
JOHANNESBURG, May 15, 2013 /PRNewswire-FirstCall/ -- Canadian Solar Inc.
(NASDAQ: CSIQ) (the "Company" or "Canadian Solar"), one of the world's largest
solar companies, today announced the successful expansion of its partner
Romano Sustainable Solutions in Africa. Romano, a pioneer company in the South
African photovoltaic (PV) industry, was recently awarded the engineering,
procurement and construction (EPC) contract for a 360 kW PV solar system
installation. The roof top installation will be on the Johannesburg
headquarters of Eskom, the largest producer of electricity in Africa.
As one of the most experienced solar PV systems integrators in Africa, Romano
designs, manufactures and installs solar PV systems to commercial clients
spread throughout Africa. Most of Romano's solar PV systems are grid-tied
systems. When connected to the client side of the on-site electrical
sub-station, the electricity generated is used on the site by the client. When
connected to the utility side the electricity generated is exported to the
national or municipal electricity grid.
"We are very proud to be involved with this prestigious project for Eskom,
which we understand was awarded on the basis of our technical capability and
track record, as well as the cost effectiveness of our offer," said Alexi
Romano, CEO of Romano.
"The solar energy market in Africa continues to develop and has considerable
potential for growth. We are positioned to benefit through our relationships
with experienced partners like Romano. We look forward to supporting their
growth in this important market, including the high profile Eskom project,"
said Dr. Shawn Qu, Chairman and CEO of Canadian Solar."
Eskom generates approximately 95% of the electricity used in South Africa and
approximately 45% of the electricity used in Africa. Eskom generates,
transmits and distributes electricity to industrial, mining, commercial,
agricultural and residential customers and redistributors. Additional power
stations and major power lines are being built to meet rising electricity
demand in South Africa. Eskom will continue to focus on improving and
strengthening its core business of electricity generation, transmission,
trading and distribution. For more information, please visit www.eskom.co.za.
About Romano Group
The Romano Group is a multi-skilled provider of a broad range of sustainable
solutions, to clients who are typically large commercial, industrial or retail
property owners and tenants spread throughout Africa. Romano's value-added
offer includes the design, manufacture and installation of high-quality Solar
PV, ECO-Lighting, Modular Construction and Signage & Print solutions, all of
which are delivered on-time at a competitive price. The company celebrated its
60^th birthday in 2012 and employs 150 people. For more information, please
About Canadian Solar Inc.
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
4GW of premium quality solar modules to customers in over 50 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
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
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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, including Canada; 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
SOURCE Canadian Solar
Contact: Ed Job, CFA, Director, Investor Relations, Canadian Solar Inc.,
email@example.com; Daniel Heck, Sr. Director, EMEA Marketing, Canadian
Solar South Africa, firstname.lastname@example.org; David Pasquale, Global IR
Partners, +1-914-337-8801, email@example.com
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