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Canadian Solar, Inc. (CSIQ) Produces 70 MW of Modules for Germany’s Largest Solar Plant

|Includes: Canadian Solar Inc. (CSIQ)
Canadian Solar, Inc. announced that is has supplied photovoltaic solar modules capable of generating an output of 70 MW to Germany’s largest solar power plant, constructed by GP JOULE. Financing partners for the project were HSH Nordbank, Unlimited Energy and Luxcara.
 
Canadian Solar is a solar products company that produces ingots, wafers, solar cells, solar modules and other solar applications. Operating in North America, Europe and Asia, the company manufactures solar equipment for both on-grid and off-grid use. GP JOULE (“GP”) is a German designer and fabricator of green energy solutions, including solar, wind and biomass. GP also offers management staff to completed plants, and has international offices in three other countries, including North America.
 
Construction by GP in the East German city of Meuro involved installing approximately 306,000 solar modules across four fields. The power output of the plant will supply 17,000 households in the area with green energy. Canadian Solar and GP have operated together since 2009, and have recently concluded a supply agreement in April for 97 MW.
 
“We are proud to see our modules selected for this prestigious landmark project. With this solar power plant, GP JOULE is demonstrating on a high quality standard the true large scale potential of solar energy in meeting energy demands worldwide,” said Dr. Shawn Qu, Chairman and CEO of Canadian Solar. “This project also significantly increases our presence and brand awareness in Germany, consistently the world’s top solar market. We look forward to continuing our successful cooperation with GP JOULE.”
 
“We selected Canadian Solar’s photovoltaic (‘PV’) modules because of their high quality, performance and reliability — all critical for successfully implementing and running large projects. Canadian Solar continues to set industry benchmarks in the development of innovative PV modules, which also represent excellent value for money,” said Ove Petersen, founder and CEO of GP JOULE. “Service, flexibility and trust are of particular importance for large solar parks, like our current 70 MW project. Canadian Solar has it all.”
 
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