Canadian Solar Announces the Opening of Its Microgrid Testing Centre
GUELPH, Ontario, March 14, 2014
GUELPH, Ontario, March 14, 2014 /PRNewswire-FirstCall/ -- Canadian Solar Inc.
(the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's
largest solar power companies, today announced the opening of Canadian Solar
Microgrid Testing Centre. The Centre will focus on micro-grid solution
testing, and system solution design and smart grid assessment services.
The Canadian Solar Microgrid Testing Centre, partially funded by the Ontario
Ministry of Energy, will be located in Guelph, Ontario. The Testing Centre has
a team of highly qualified professionals, who will facilitate the development
of both off-grid and grid-tied microgrid projects.
The Microgrid Testing Centre will work with its collaborators to provide
shareable services for utilities, universities and colleges, communities, and
companies that engage in the development of microgrid solutions.
"We thank the Ontario Ministry of Energy for sharing our vision and our effort
in making Ontario the centre of renewable energy technology in North America.
As of today, Canadian Solar has built up altogether approximately 500 MW of
annual module capacity in Ontario, the largest module manufacturer in North
America, creating over 700 direct jobs in less than four years. Meanwhile, we
have created over thousands of indirect local jobs.The Canadian Solar
Microgrid Testing Centre will serve as our newest addition to our Total
Solutions strategy, and will help further strengthen our position in the
emerging multi-billion dollar micro-grid and smart grid sector," said Dr.
Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.
"The investment in the Canadian Solar by the Smart Grid Fund project supports
our vision for developing leading-edge smart-grid projects that help create
Ontario jobs and make Ontario a North American leader in emerging energy
technologies," said Liz Sandals, Ontario Minster of Education and Member of
the Provincial Parliament of Ontario representing Guelph.
"Building a smarter grid has long been a key part of our government's plan to
modernize our energy infrastructure and provide clean, reliable affordable
power to consumers. Projects supported through the Ontario's Smart Grid Fund
support the vision that will bring to market the next generation of smart grid
solutions," said Bob Chiarelli, Ontario Minister of Energy.
The new microgrid solution will give Ontario a strong competitive advantage in
that segment of the smart grid industry that focuses on testing, develop and
integrating high penetration renewable energy solutions into existing
microgrid off-grid infrastructure. First Nations, remote communities and
mining projects in Northern Ontario will directly benefit from using the
Testing Centre. In addition, the Testing Centre will serve an essential need
in the smart microgrid application process, as Ontario Hydro requires all
solutions to be lab tested before being testing in the field and then
implemented into the microgrid.
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
Safe Harbor/Forward-Looking Statements
Certain statements in this press release, including but not limited to
statements regarding the expected start of construction, date of completion
milestone payment terms, period of service, power production and environmental
impact 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, including Canada and the Province of Ontario; 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'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
SOURCE Canadian Solar Inc.
Contact: Canadian Solar Inc. Contacts: Investors:Ed Job, CFA, Director,
Investor Relations, Canadian Solar Inc. email@example.com David
Pasquale, Global IR Partners,+1-914-337-8801, firstname.lastname@example.org;
Media: Suzanne Wilson, Canadian Solar Solutions Inc., +1-519-837-1881,
Suzanne.email@example.com; Songul Atacan, Canadian Solar Inc., Director
of Marketing, Americas, firstname.lastname@example.org
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