Canadian Solar Inc. ("the Company", "Canadian Solar" or "we") (Nasdaq: CSIQ) today announced that that it has entered into a sales contract with Fire Energy Group ("F.E."). Under terms of the contract, shipments started in January, with Canadian Solar expected to supply 60MW of PV modules to Fire Energy in 2010.
Fire Energy Group is a system integrator that provides project management and distribution services. Fire Energy Group will use its global reach to promote Canadian Solar's PV products in Spain, Germany, Italy, the U.S., the Czech Republic, Morocco and China.
Mr. John Liu, Chairman and CEO of Fire Energy Group commented, "This cooperation is an important step in meeting our customer needs. This agreement secures high-quality solar modules from Canadian Solar, one of the world's most respected and proven producers. We view this as a win-win cooperation where we can grow together with our new partner. Our shared philosophy is to offer the best service and the best quality at a reasonable price."
Shawn Qu, Chairman and CEO of Canadian Solar, said, "We are pleased to work with Fire Energy Group, one of the largest PV system integrators in Europe. Canadian Solar's global leadership, scale, cost leverage and proven quality record put us in the enviable position of being able to work with the best partners in each local market. In the case of Fire Energy, the contract calls for a 60MW purchase commitment, which we are confident we will deliver to Fire Energy based on their existing orders and customer growth indications."
About Canadian Solar Inc. ( CSIQ)
Canadian Solar Inc. is 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 systems for on- grid and off-grid use to customers worldwide. Canadian Solar is one of the world's largest solar module producers by manufacturing capacity. With operations in North America, Europe and Asia, Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar solutions to support global sustainable development. For more information, visit http://www.canadiansolar.com .
Safe Harbor/Forward-Looking Statements
Certain statements in this press release including statements regarding expected future financial and industry growth 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 general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future shortage or availability of the supply 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, including customers of our silicon materials sales; 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 originally filed on June 8, 2009. 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.
Source: Canadian Solar Inc.
Wednesday, January 27, 2010
Monday, January 11, 2010
Prime Minister launches Jawaharlal Nehru National Solar Mission – Solar India
The Prime Minister, Dr. Manmohan Singh, launched the Jawaharlal Nehru National Solar Mission – Solar India in New Delhi today. Following is the text of the Prime Minister’s inaugural address:
“I am very happy to be here today to launch the highly innovative Jawaharlal Nehru National Solar Mission under the brand name “Solar India”. This National Solar Mission has the pride of place in India’s National Action Plan on Climate Change. Its success has the potential of transforming India’s energy prospects, and contributing also to national as well as global efforts to combat climate change. This Mission is one of the major priorities of the second term of our government and I congratulate Dr. Abdullah and my other colleagues particularly Shri Shyam Saran, for the work they have done in bringing this to fruition.
Increased use of solar energy is a central component of our strategy to bring about a strategic shift from our current reliance on fossil fuels to a pattern of sustainable growth based on renewable and clean sources of energy. I sincerely hope that this solar Mission will also establish India as a global leader in solar energy, not just in terms of solar power generation but also in solar manufacturing and generation of this technology.
The importance of this Mission is not just limited to providing large-scale grid connected power. It has the potential to provide significant multipliers in our efforts for transformation of India’s rural economy. Already, in its decentralized and distributed applications, solar energy is beginning to light the lives of tens of millions of India’s energy-poor citizens. The rapid spread of solar lighting systems, solar water pumps and other solar power-based rural applications can change the face of India’s rural economy. We intend to significantly expand such applications through this Mission. As a result, the movement for decentralized and disbursed industrialization will acquire an added momentum, a momentum which has not been seen before.
The target of 20,000 MW of solar generating capacity by the end of the 13th Five Year Plan is no doubt an ambitious target. But I do sincerely believe that the target is doable and that we should work single-mindedly to achieve it as a priority national endeavour.
The carefully crafted regulatory and incentive framework that has been unveiled today has several innovative features. We expect that it will lead to a rapid scale up of capacity. This will encourage technological innovation and generate economies of scale, thereby leading to a steady lowering of costs. Once parity with conventional power tariff is achieved, there will be no technological or economic constraint to the rapid and large-scale expansion of solar power thereafter.
Clearly, technological innovation will be a key factor in ensuring the success of this Mission. We will need to find ways of reducing the space intensity of current solar applications, including through the use of nano-technology. Cost-effective and convenient storage of solar energy beyond daylight hours will be critical to its emergence as a mainstream source of power. In the meantime, we may need to explore hybrid solutions, combining solar power generation with gas, biomass or even coal-based power.
It was the vision of Prime Minister Pandit Jawaharlal Nehru that enabled India to create world-class scientific and technological capacities in the field of atomic energy and space sectors. It is these strengths in science and technology that eventually have created the Information Technology revolution in India and made it a global power. I am convinced that solar energy can also be the next scientific and technological frontier in India after Atomic Energy, Space and Information Technology.
There exists in our country immense talent and research capabilities already engaged in the solar energy field both in the private and public sectors. It is clear that a large number of Ministries and authorities will have to work in tandem if we are to make a success of this important Mission. The Solar Mission should evolve as a single national platform for coordination among our scientific, industrial and regulatory establishments in a synergetic manner.
I am happy that the Federation of Indian Chambers of Commerce and Industry has been associated with this event. The role of industry in this Mission’s success will be critical. Eventually, if the ambitious roll out of the Mission is to become a living reality, we will have to create many ‘Solar Valleys’ on the lines of the Silicon Valleys that are spurring our IT industry across the four corners of our country. These valleys will become hubs for solar science, solar engineering and solar research, fabrication and manufacturing. I urge Indian industry to see the National Solar Mission as the huge business opportunity that it is going to be.
The Sun has long been recognized as a primal source of all energy on earth. In an ancient civilization like India, the Sun has been worshipped as the God who bestows life and sustains it. The bounty of the Sun is truly inexhaustible, renewable and free. It is to this source of energy that humankind must turn to meet the twin challenge of energy security and climate change.
With these words, I wish the Jawaharlal Nehru National Solar Mission every success.”
Source: PIB Press Release
“I am very happy to be here today to launch the highly innovative Jawaharlal Nehru National Solar Mission under the brand name “Solar India”. This National Solar Mission has the pride of place in India’s National Action Plan on Climate Change. Its success has the potential of transforming India’s energy prospects, and contributing also to national as well as global efforts to combat climate change. This Mission is one of the major priorities of the second term of our government and I congratulate Dr. Abdullah and my other colleagues particularly Shri Shyam Saran, for the work they have done in bringing this to fruition.
Increased use of solar energy is a central component of our strategy to bring about a strategic shift from our current reliance on fossil fuels to a pattern of sustainable growth based on renewable and clean sources of energy. I sincerely hope that this solar Mission will also establish India as a global leader in solar energy, not just in terms of solar power generation but also in solar manufacturing and generation of this technology.
The importance of this Mission is not just limited to providing large-scale grid connected power. It has the potential to provide significant multipliers in our efforts for transformation of India’s rural economy. Already, in its decentralized and distributed applications, solar energy is beginning to light the lives of tens of millions of India’s energy-poor citizens. The rapid spread of solar lighting systems, solar water pumps and other solar power-based rural applications can change the face of India’s rural economy. We intend to significantly expand such applications through this Mission. As a result, the movement for decentralized and disbursed industrialization will acquire an added momentum, a momentum which has not been seen before.
The target of 20,000 MW of solar generating capacity by the end of the 13th Five Year Plan is no doubt an ambitious target. But I do sincerely believe that the target is doable and that we should work single-mindedly to achieve it as a priority national endeavour.
The carefully crafted regulatory and incentive framework that has been unveiled today has several innovative features. We expect that it will lead to a rapid scale up of capacity. This will encourage technological innovation and generate economies of scale, thereby leading to a steady lowering of costs. Once parity with conventional power tariff is achieved, there will be no technological or economic constraint to the rapid and large-scale expansion of solar power thereafter.
Clearly, technological innovation will be a key factor in ensuring the success of this Mission. We will need to find ways of reducing the space intensity of current solar applications, including through the use of nano-technology. Cost-effective and convenient storage of solar energy beyond daylight hours will be critical to its emergence as a mainstream source of power. In the meantime, we may need to explore hybrid solutions, combining solar power generation with gas, biomass or even coal-based power.
It was the vision of Prime Minister Pandit Jawaharlal Nehru that enabled India to create world-class scientific and technological capacities in the field of atomic energy and space sectors. It is these strengths in science and technology that eventually have created the Information Technology revolution in India and made it a global power. I am convinced that solar energy can also be the next scientific and technological frontier in India after Atomic Energy, Space and Information Technology.
There exists in our country immense talent and research capabilities already engaged in the solar energy field both in the private and public sectors. It is clear that a large number of Ministries and authorities will have to work in tandem if we are to make a success of this important Mission. The Solar Mission should evolve as a single national platform for coordination among our scientific, industrial and regulatory establishments in a synergetic manner.
I am happy that the Federation of Indian Chambers of Commerce and Industry has been associated with this event. The role of industry in this Mission’s success will be critical. Eventually, if the ambitious roll out of the Mission is to become a living reality, we will have to create many ‘Solar Valleys’ on the lines of the Silicon Valleys that are spurring our IT industry across the four corners of our country. These valleys will become hubs for solar science, solar engineering and solar research, fabrication and manufacturing. I urge Indian industry to see the National Solar Mission as the huge business opportunity that it is going to be.
The Sun has long been recognized as a primal source of all energy on earth. In an ancient civilization like India, the Sun has been worshipped as the God who bestows life and sustains it. The bounty of the Sun is truly inexhaustible, renewable and free. It is to this source of energy that humankind must turn to meet the twin challenge of energy security and climate change.
With these words, I wish the Jawaharlal Nehru National Solar Mission every success.”
Source: PIB Press Release
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