Canadian Solar Announces Module Supply Contract with Vivint Solar

Sep 10, 2015, 07:00 ET from Canadian Solar Inc.

GUELPH, Ontario, Sept. 10, 2015 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that the Company has entered into a long term product supply agreement with Vivint Solar (NYSE: VSLR), a leading provider of distributed solar energy to residential and commercial customers in the United States. This contract, which allows for Canadian Solar to supply Vivint Solar with high efficiency CS6P polycrystalline modules for residential and commercial installations, will give the Company the ability to reach additional customers within these market segments and expand its consumer base.

"Vivint Solar is pleased to add Canadian Solar as one of our key module suppliers," said Jan Newman, Senior Vice President of Business Development at Vivint Solar. "This new, strategic relationship will allow us to provide solar power to new residential and commercial customers in various markets." 

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, "As North America's largest module manufacturer, we take pride in significantly growing this relationship with Vivint Solar to supply our innovative and cost-effective panels to residential and consumer customers in the United States. In line with Canadian Solar's corporate vision, this agreement will make solar more affordable for all homeowners."

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 a provider of solar energy solutions, Canadian Solar has a geographically diversified pipeline of utility-scale power projects. In the past 14 years, Canadian Solar has successfully deployed over 11 GW of premium quality modules in over 70 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the world, having been publically listed on NASDAQ since 2006. For additional information about the company, follow Canadian Solar on Facebook, Twitter, LinkedIn, or on the website.

About Vivint Solar

Vivint Solar (NYSE: VSLR) is a leading provider of distributed solar energy—electricity generated by a solar energy system installed at a customer's location—to residential customers in the United States. Vivint Solar's customers pay little to no money upfront, receive significant savings relative to utility generated electricity and continue to benefit from guaranteed energy prices over the 20-year term of their contracts. Vivint Solar finances, designs, installs, monitors, and services the solar energy systems to make things easy for its customers. For more information, visit or follow @VivintSolar.

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 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 solar grade silicon; demand for solar 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, the U.S., Japan and China; changes in customer order patterns; capacity utilization; level of competition; pricing pressure and declines in average selling price; 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; utility-scale project construction delays; utility-scale project cancelation due to failure to obtain all the necessary permits; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; trade protectionism in Europe, the U.S. and India; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on April 23, 2015. Although the Company believes that the expectations reflected in its 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.

SOURCE Canadian Solar Inc.