Canadian Solar Energizes Five Solar Power Plants in the United Kingdom

Jan 06, 2016, 07:00 ET from Canadian Solar Inc.

GUELPH, Ontario, Jan. 6, 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 has energized an additional five solar power plants, totaling 22.9 MWp, bringing its total fleet of solar power plants in operation in the United Kingdom to 63.1 MWp.

Three solar plants, Royston Solar Park, Wick Road Solar Park and Pant-Y-Moch Solar Park are being developed under the community scheme, with a commercial component totaling 14.7 MWp energized in the fourth quarter of 2015, and a community solar component totaling 12.5 MWp that is expected to be connected to the grid in the first half of 2016 allowing community investors to benefit from large scale PV system development in the United Kingdom.

Two other solar power plants, Long Meadow Solar Farm and Slade Solar Farm, totaling 8.2 MWp have been connected to the grid in the fourth quarter of 2015 under the Renewable Obligations Certificate (ROCs) program.

The five commercial solar plants connected to the grid in the fourth quarter of 2015 (22.9 MWp) will produce approximately 23,953 megawatt-hours of electricity per year, which will displace approximately 16,517 metric tons of carbon dioxide per year.

"We are delighted to announce the grid connection of an additional five projects, bringing our fleet of solar power plants in commercial operation in the UK to 63.1 MWp," said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. "We are proud to make our contribution to the adoption of clean solar energy in the UK, while at the same time creating lasting value for our shareholders."

The Royston Solar Park, located in Roystone, Hertfordshire, has a total system size of 10.0 MWp, including 5.0 MWp commercial project that is in operation and a 5.0 MWp community project, which will be built and energized in the first half of 2016. The Wick Road Solar Park, located in Somerset, has a total system size of 7.2 MWp, including 4.7 MWp commercial project in operation and a 2.5 MWp community project, which will be built and energized in the first half of 2016. The Pant-Y-Moch Solar Park, located in Port Talbot has a total system size of 10.0 MWp, including a 5.0 MWp commercial project in operation and a 5.0 MWp community project, which will be built and energized in the first half of 2016. The Long Meadow Solar Farm, located in Bedfordshire has a total system size of 4.1 MWp and lastly, Slade Solar Farm, located in Devon, has a total system size of 4.1 MWp.

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 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.



RELATED LINKS

http://www.canadiansolar.com