07/02/2014

Canadian Solar Announces 12.6 MW Solar Module Supply Agreement In Turkey

Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that it has recently signed a sales contract to supply 12.6MW of photovoltaic ("PV") modules to Kayseri Organized Industry Zone (KOIZ) and a consortium of companies in KOIZ, (BESLER Tekstil San. ve Tic. A.S and HASCELIK Group of companies- Hascelik Cable, Coreal Cable and Metal Matris) for a solar power project located in Kayseri, Turkey.

"We are very proud to announce this 12.6MW module supply agreement which is our largest deal ever in Turkey, making it a new milestone in this important emerging market. It is the second deal we made with the aforementioned customers to whom we supplied 2.2MW of solar modules at the end of last year," commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, "By signing this agreement, we are expanding our presence and solidifying our competitive position in Turkey, which underscores our global leading position as a tier 1 solar module supplier with a track record of providing quality and reliable solar modules to solar power projects across the globe."

Canadian Solar will supply its high efficiency 60 cell CS6P255P and CS6P260P modules with power output respectively of 255Wp and 260Wp for the project. The Company's 255Wp and 260Wp CS6P-P modules outperform competing 60 polycrystalline cell module brands in the market, producing close to 5% more power annually according to PVsyst PV system simulation. In addition, all Canadian Solar modules come with a 10-year material warranty and a 25-year linear power output performance guarantee backed by a third-party insurance policy under-written by leading insurance companies.


Source: Canadian Solar Inc. /canadiansolar.com