Canadian Solar Introduces New 320W Polycrystalline Solar Module

Aug 20, 2015, 07:00 ET from Canadian Solar Inc.

GUELPH, Ontario, Aug. 20, 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 will now be offering its MaxPower polycrystalline module in a new 320W power class. The MaxPower CS6X-320P is a more robust module with higher power efficiency. In addition, when the MaxPower CS6X-320P module is paired with a respective Canadian Solar CSI-23/28/36KTL-CT 3-phase inverter, a stronger, more cost-effective systems solution can be achieved from a single bankable supplier like Canadian Solar.   

Along with the 310W and 315W polycrystalline modules, the 320W power class is an innovative addition to the MaxPower line of solar PV modules. Consistent with Canadian Solar's high product quality, this module includes the brand's 25-year linear power output warranty and a 10-year product warranty on materials and workmanship.  Furthermore, this new power class gives solar installers and project developers the ability to reduce their overall balance of system costs for small commercial, large commercial, distributed generation, and utility-scale projects.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said, "Canadian Solar's new 320W polycrystalline solar module highlights the company's innovative spirit and dedication to product development.  Not only have we been able to achieve one of the highest power classes commercially available, but our ability to offer this module at a competitive price point is a testament to our bankability and reputable position in the industry.   We believe that this new product will satisfy consumer demand for a more efficient module, while at the same time give Canadian Solar leverage over other module manufacturers."

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 10 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.

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.