Canadian Solar Inc. (the "Company", or "Canadian Solar") Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, announced it has been selected as the sole module supplier to provide 268 MW of double-glass Dymond modules for the first phase of the 800 MW Mohammed bin Rashid Al Maktoum Solar Park (DEWA Project) in Dubai. When completed in 2020, the three-phase DEWA Project will be one of the world's largest single-location solar parks. The EPC Joint Venture (JV) Consortium consists of Acciona, Gransolar and Ghella. The first phase of the DEWA project will use more than 800,000 double-glass modules upon its completion. The production and delivery has started this month.
Canadian Solar's proven track-record, solid bankability and high-quality standards were key factors in winning the mandate from the EPC JV. As a pioneer in double-glass module manufacturing technology, Canadian Solar has delivered close to 1 GW of double-glass modules worldwide since 2013.
The Mohammed bin Rashid Al Maktoum Solar Park is part of the Dubai Integrated Energy Strategy 2030, which seeks to secure a sustainable supply of energy through diversification in sources. Dubai aims to reduce its reliance on imported natural gas and increase solar energy to 7% of the total by 2010 and 15% by 2030.
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented: "We are proud to be partnering with Masdar / DEWA / EDF and the EPC JV on this outstanding project. I am confident that Canadian Solar's Dymond modules will perform well in the project's hot desert climate. As Dubai diversifies its energy portfolio, our partnership will serve as an excellent example for future utility-scale solar projects in the region, and we are eager to contribute further to the energy market growth in the Middle East."