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Canadian Solar to Supply 32 Megawatts of Panels for China Plant

Canadian Solar Inc. (CSIQ), the best-performing solar manufacturer this year, agreed to supply 32 megawatts of panels for a project in China.

Delivery to China Perfect Machinery Industry Corp. will be completed this month, the Guelph, Ontario-based solar manufacturer said today in a statement. Terms weren’t disclosed.

“Demand for solar modules in China is picking up nicely in the fourth quarter,” Canadian Solar Chief Executive Officer Shawn Qu said in the statement. The company is scheduled to report its third-quarter earnings tomorrow, and said Nov. 4 it’s expecting its first quarterly profit in more than two years.

Canadian Solar has increased more than eightfold this year, the most in the 15-member Bloomberg Industries Global Large Solar Index.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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