Unirac, North America's leading provider of infrastructure for solar
power systems, and Canadian Solar Solutions Inc., a wholly owned
subsidiary of one of the world's largest solar companies, Canadian
Solar Inc. (NASDAQ: CSIQ), announced today, a strategic partnership
to offer 30 megawatts (MW) of Canadian Solar's PV systems with Unirac's
mounting solutions for residential and commercial rooftop installations
The 30 MW partnership between Canadian Solar Solutions and Unirac
provides Ontario customers with a complete best-in-class system solution
that enables optimal system design flexibility and the highest levels of
system performance for a rapid and continuous return on investment. This
partnership will also allow Canadian Solar Solutions' customers another
way to participate in Ontario's groundbreaking FIT and microFIT programs
and earn a return on their investment while helping create a clean
?We are excited about working closely with a strong partner like
Canadian Solar Solutions to address the rapidly growing Ontario market
for solar energy,? said Doug May, President and CEO of Unirac.
?Ontario's compelling renewable energy reimbursements are paving the way
for a more sustainable future, and this partnership provides an ideal
platform to provide Ontario customers with superior solar installations
designed to perform well over the long term.?
Dr. Shawn Qu, Chairman and CEO, Canadian Solar Inc. remarked, "By
partnering together we are able to offer a compelling turnkey solution.
We will help nurture growth of the overall Canadian market by enabling
customers to optimize rooftop solar energy generation through a
combination of Canadian Solar's distinct PV panels and Canadian Solar
Solutions' additional photovoltaic-related solutions with Unirac's
tested and proven solar mounting solutions. The partnership helps assure
optimized power production in a rooftop and ground mount environment."
Unirac is one of the first solar racking systems to meet Ontario's
provincial content requirements. Under the microFIT terms, homeowners
and small business owners who develop a project (10 kilowatts or less)
that adhere to the 60 percent threshold of local content as mandated by
the Ontario Power Authority (OPA) earn between 64.2 and 80.2 cents per
kilowatt hour, a price that is guaranteed for 20 years. For projects
larger than 10 kilowatts that meet the 60 percent local threshold, the
OPA will pay out between 44.3 and 71.3 cents per kilowatt hour,
depending on the installation size. The Unirac partnership enhances
Canadian Solar Solutions' domestic content portfolio.
Unirac, a Hilti company, is North America's leading provider of
infrastructure for solar power systems. Recognized as an industry
innovator on both the product and process side, Unirac is one of the
fastest growing companies in the solar industry. Unirac's
industrial-grade solar mount solutions meet ?Made in America', ?Buy
American', ARRA and Ontario Power Authority FIT and microFIT criteria.
For more information about Unirac, please visit www.unirac.com.
About Canadian Solar Inc. (NASDAQ: CSIQ)
Canadian Solar Inc. is one of the world's largest solar companies. As a
leading vertically integrated provider of ingots, wafers, solar cells,
solar modules 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 and Asia, Canadian Solar provides premium quality,
cost-effective and environmentally-friendly solar solutions to support
global, sustainable development. For more information, visit www.canadiansolar.com.
Canadian Solar Solutions Inc. is a wholly owned subsidiary of Canadian
Solar Inc. For more information on Canadian Solar Solutions, visit www.canadian-solar.ca.
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 and internal
investigations as well as general business and economic conditions and
the state of the solar industry; governmental support for the deployment
of solar power; the availability 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 August 19, 2010. 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.
For Canadian Solar
Alex Taylor, IR Director
Sterling Communications for Unirac
Tanya Bragg, +1-519-954-2057