Canadian Solar Energises Three Solar Power Plants in Japan

Feb 08, 2016, 07:00 ET from Canadian Solar Inc.

GUELPH, Ontario, Feb. 8, 2016 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that it started the commercial operation of three solar photovoltaic (PV) power plants in Japan, totaling approximately 6.2 MWp. The 6.2 MWp portfolio of projects include the 2.3 MWp Ashikita Solar Power Plant in Kumamoto City, Kumamoto Prefecture, the 2.2 MWp Minamishimabara Power Plant - East and the 1.7MWp Minamishimabara Plant - West in Minamishimabara City, Nagasaki Prefecture.

"The completion and commercial operation of the additional three solar projects, totaling 6.2MWp, brings our total megawatts of projects in operation in Japan to approximately 21MWp," commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc., "We remain on track to execute on our plan to deliver more clean solar energy to the Japanese market."

The 2.3 MWp Ashikita Solar Power Plant, powered by 9,030 Canadian Solar CS6P-260P modules, achieved commercial operation on December 11, 2015. The electricity generated from this plant, approximately 2,858 MWh annually, will be purchased by Kyushu Electric Power Co., Inc. under a 20 year feed-in-tariff contract at the rate of ¥40.00 ($0.34) per kWh.

The 2.2 MWp Minamishimabara Power Plant – East, powered by 8,602 Canadian Solar CS6P-260P modules, achieved commercial operation on December 25, 2015. The electricity generated from the plant, approximately 2,750 MWh annually, will be purchased by Kyushu Electric Power Co., Inc. under a 20 year feed-in-tariff contract at the rate of ¥40.00 yen ($0.34) per kWh.

And finally the 1.7 MWp Minamishimabara Plant – West, powered by 6,509 Canadian Solar CS6P-260P modules, achieved commercial operation on January 29, 2016. This plant is expected to generate approximately 2,073 MWh of clean, solar electricity annually to be purchased by Kyushu Electric Power Co., Inc. under a 20 year feed-in-tariff contract at the rate of ¥40.00 yen ($0.34) per kWh.

About Canadian Solar 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 12 GW of premium quality modules in over 70 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, 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.

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 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 Germany, Japan, the U.S. 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 23, 2015. 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.

SOURCE Canadian Solar Inc.



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