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Canadian Solar Supplying 48 Megawatts for Japan, U.S. Plants

Feb. 24 (Bloomberg) -- Canadian Solar Inc., the best-performing solar manufacturer last year, agreed to supply 48 megawatts of modules for power plants in Japan and the U.S.

Canadian Solar is providing 18 megawatts of panels for a project that Hitachi Ltd. is building in Northeast Japan for Eurus Energy Holdings Corp., according to a statement today. The power plant is expected to be operational in March 2015 and Tohoku Electric Power Co. has agreed to buy the output under a 20-year contract. Terms weren’t disclosed.

The solar company, based in Guelph, Ontario, is also supplying 30 megawatts of panels to Strata Solar LLC for five projects in North Carolina. Terms weren’t disclosed in a separate statement.

The company gained 5.2 percent to $39.75 at the close in New York. It increased more than eightfold in 2013, the most in the Bloomberg Industries Global Large Solar Energy 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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