GUELPH, Ontario, April 12, 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 become the founding member of the Global Solar Council.
Launched at the U.N. Climate Change Conference in Paris last year, the Global Solar Council aims to coordinate the efforts of the world's solar energy associations.
Canadian Solar CEO and Chairman Dr. Shawn Qu attended the launch event to share his vision with the politicians and industry leaders attending. His two specific calls for action concerned kerosene usage and trade barriers:
First, as of today, there are 1.3 billion people around the world who still depend on kerosene for light. Solar lamps provide a clean solution to this global problem with significant health and economic benefits. They offer an emission-free pathway to electrification, which in turn can boost economic growth. Dr. Qu called the industry to recognize the solution solar can provide and join Canadian Solar in an estimated $20B effort to replace all kerosene lamps within the next ten years.
Second, the development and implementation of solar technology requires global efforts. Free flow of solar products, people and technology will help reduce the cost of global solar deployment, and therefore the cost of climate change action for every country. "Unfortunately, we are seeing more and more trade barriers between countries for solar products, hurting the industries that offer the best hope of reducing carbon emissions. To curb emissions in the most cost-effective way possible, global commitment to free trade is necessary", as Dr. Qu emphasizes.
Both of these calls for action are now part of the mission statement of the Global Solar Council, which launched its Leadership Forum last week aiming to "accelerate the deployment of clean, reliable, emission-free solar energy" worldwide. In the forthcoming months, all members will actively contribute to develop recommendations and engage with association members for mutual initiatives, with the first global meeting taking place at Intersolar Munich in June 2016. More information on the objectives and work of the Global Solar Council can be found at http://www.globalsolarcouncil.org
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 approximately 14GW of premium quality modules in over 90 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 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.
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SOURCE Canadian Solar Inc.