GUELPH, Ontario, May 30, 2017 /PRNewswire/ -- Canadian Solar
Inc. (the "Company", or "Canadian Solar") Canadian Solar Inc. (the
"Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's
largest solar power companies, today announced it has been selected
as the sole module supplier to provide 268 MW of double-glass
Dymond modules for the first phase of the 800 MW Mohammed bin
Rashid Al Maktoum Solar Park (DEWA Project) in Dubai. When completed in 2020, the three-phase
DEWA Project will be one of the world's largest single-location
solar parks. The EPC Joint Venture (JV) Consortium consists
of Acciona, Gransolar and Ghella. The first phase of the DEWA
project will use more than 800,000 double-glass modules upon its
completion. The production and delivery has started this month.
Canadian Solar's proven track-record, solid bankability and
high-quality standards were key factors in winning the mandate from
the EPC JV. As a pioneer in double-glass module manufacturing
technology, Canadian Solar has delivered close to 1 GW of
double-glass modules worldwide since 2013.
The Mohammed bin Rashid Al Maktoum Solar Park is part of the
Dubai Integrated Energy Strategy 2030, which seeks to secure a
sustainable supply of energy through diversification in sources.
Dubai aims to reduce its reliance
on imported natural gas and increase solar energy to 7% of the
total by 2010 and 15% by 2030.
Dr. Shawn Qu, Chairman and Chief Executive Officer
of Canadian Solar, commented: "We are proud to be partnering
with Masdar / DEWA / EDF and the EPC JV on this outstanding
project. I am confident that Canadian Solar's Dymond modules will perform well in the
project's hot desert climate. As Dubai diversifies its energy portfolio, our
partnership will serve as an excellent example for future
utility-scale solar projects in the region, and we are eager to
contribute further to the energy market growth in the Middle East."
About Canadian Solar Inc.
Founded in 2001 in Canada,
Canadian Solar is one of the world's largest and foremost solar
power companies. As a leading manufacturer of solar photovoltaic
modules and provider of solar energy solutions, Canadian Solar also
has a geographically diversified pipeline of utility-scale power
projects in various stages of development. In the past 16 years,
Canadian Solar has successfully delivered over 20 GW of premium
quality modules to over 100 countries around the world.
Furthermore, Canadian Solar is one of the most bankable companies
in the solar industry, having been publicly listed on NASDAQ since
2006. For additional information about the Company, follow Canadian
Solar on LinkedIn or
visit www.canadiansolar.com.
Safe Harbor/Forward-Looking Statements
Certain statements in this press release regarding the Company's
expected future shipment volumes, gross margins, business prospects
and future quarterly or annual results, particularly the management
quotations and the statements in the "Business Outlook" section,
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 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 Japan, the U.S., India and China; 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; delays in utility-scale project approval
process; delays in utility-scale project construction; 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 April 27, 2017. 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. Investors
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.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/canadian-solar-supplies-268-mw-dymond-modules-for-the-dewa-project-in-dubai-300465221.html
SOURCE Canadian Solar Inc.