MUNICH, Germany, February 23, 2012 /PRNewswire-Asia-FirstCall/ -- Canadian Solar (the "Company," "we" or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar companies, announced the supply of 2,800 solar modules for a rooftop system in the Danish city of Virum. The solar installation, north of Copenhagen, has a capacity of 605 kW, which makes it Denmark's largest PV system.
SRU Solar AG, based in the city of Berga in Saxony-Anhalt, Germany, constructed the pioneering PV system on two roofs of an office complex located in Virum, in cooperation with the young Danish energy company Greengo Energy. Connected to the public grid in January 2012, this is the largest PV installation of its kind in Denmark. It is part of Greengo Energy's strategy to install PV systems on commercial roofs and to supply companies with solar power at prices below the market average. "To us, the successful completion of the PV project is a milestone for the development of the Danish PV market. The good cooperation with our partners and the high-performing and excellent quality of the components used were of paramount importance in this project," said Dr. Ing. Matthias Schonhard, member of the board at SRU Solar AG and head of the project.
"We are proud that SRU Solar and Greengo Energy have selected Canadian Solar modules. The project is a major step forward for the Danish PV market. Solar energy offers great potential for a cost-effective and reliable source of electricity, particularly in countries with a highly decentralized structure like Denmark with its many small islands. We look forward to continuing our support of the growing Danish PV market by providing tailored solutions where needed," said Dr. Shawn Qu, Chairman and CEO of Canadian Solar.
About Canadian Solar
Canadian Solar Inc. (NASDAQ: CSIQ) is one of the world's largest solar companies. As a leading vertically integrated provider of ingot, wafer, solar cell, solar module and other solar applications, Canadian Solar designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use to customers worldwide. With operations in North America, Europe, Australia and Asia, Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar solutions to support global, sustainable development. For more information, please visit www.canadiansolar.com.
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 the previously disclosed SEC investigation, as well as 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; 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; 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 May 17, 2011. 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. You 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.
