GUELPH, Ontario, March 14, 2017 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that it has secured Power Purchase Agreements for an aggregate 80 MWac of solar power projects with the Solar Energy Corporation of India (SECI), a public sector undertaking of the Government of India. Canadian Solar was awarded these projects under a 450 MWac solar capacity tender in the state of Maharashtra, through a competitive auction process. These projects are scheduled to commence operations by late 2017 and will generate clean solar electricity for SECI over the next 25 years. "We are pleased to secure our first 80 MWac of solar power projects with SECI, a bankable and reputable off-taker operating under the Government of India. This investment adds to our India pipeline that stands at 110 MWac and represents a significant milestone for Canadian Solar in one of world's fastest growing renewables markets," commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. About Canadian Solar Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 16 years, Canadian Solar has successfully delivered over 18 GW of premium quality modules to over 90 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.
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Canadian Solar Schedules Fourth Quarter and Full Year 2016 Earnings Conference Call on March 213/8/2017 GUELPH, Ontario, March 8, 2017 /PRNewswire/ -- Canadian Solar Inc. ("the Company", "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that it will hold a conference call on Tuesday, March 21, 2017 at 8:00 a.m. U.S. Eastern Daylight Time (8:00 p.m., March 21, 2017 in Hong Kong) to discuss the Company's fourth quarter and full year 2016 results and business outlook.
The dial-in phone number for the live audio call is +1 866 519 4004 (toll-free from the U.S.), +852 3018 6771 (local dial-in from HK) or +1 845 675 0437 from international locations. The passcode for the call is 78404635. A live webcast of the conference call will also be available on Canadian Solar's website at www.canadiansolar.com, or by clicking the following hyperlink: http://edge.media-server.com/m/p/ktok9e7p A replay of the call will be available 4 hours after the conclusion of the call until 9:00 a.m. on Wednesday March 29, 2017, U.S. Eastern Daylight Time (9:00 p.m., March 29, 2017 in Hong Kong) and can be accessed by dialing +1 855 452 5696 (toll-free from the U.S.), +852 3051 2780 (local dial-in from HK) or +1 646 254 3697 from international locations, with passcode 78404635. A webcast replay will also be available at www.canadiansolar.com. GUELPH, Ontario, March 6, 2017 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that it has received US$20 million unsecured funding from the China and Portuguese-speaking Countries Cooperation and Development Fund ("CPDFund") to support the development of eligible projects in Brazil, including the 191 MWp Pirapora I Project in the state of Minas Gerais. The Pirapora I Project is currently under construction and is expected to be completed in the third quarter of 2017. Once operational, the project will generate 391.3 GWh of clean electricity per year, enough to meet the annual energy needs of more than 200,000 Brazilian households and avoid 228,000 tonnes of CO2 emissions. In October 2016, Canadian Solar announced the sale of 80% interest in the project to EDF Energies Nouvelles' local subsidiary, EDF EN do Brasil. Canadian Solar's investments to accelerate solar energy generation in Brazil include the operation of the country's largest solar module manufacturing facility with annual capacity of 380 MW and the development of a further 207 MWp of solar energy projects with 20-year power purchase agreements. "We are glad to partner with the CPDFund in the growing solar energy market in Brazil. This milestone funding from the CPDFund cements our collaboration towards the CPDFund's investment into high-quality solar energy projects developed by Canadian Solar in Brazil and other Portuguese-speaking countries worldwide. We look forward to more opportunities to cooperate with state-owned enterprises and institutional investors in China to boost solar energy growth globally." - Dr. Shawn Qu, Chairman and Chief Executive Officer. About Canadian Solar Inc. Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 16 years, Canadian Solar has successfully delivered over 18 GW of premium quality modules to over 90 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com. About CPDFund As one of the six initiatives proposed at the 3rd Ministerial Conference of the China and Portuguese-speaking Countries Forum, the CPDFund was formally established in June 2013, jointly funded by China Development Bank (CDB) and the Macau Industrial and Commercial Development Fund affiliated to the Macau government according to the contribution ratio of 60% to 40%. The CPDFund aims at galvanizing investment and production capacity cooperation between China and Portuguese-speaking countries through equity and quasi-equity investment. Since its establishment three years ago, the CPDFund has reached US$ 1 billion in size and achieved substantial progress in project development and investment and gradually evolved into an important platform to foster investment cooperation between China and Portuguese-speaking countries. Canadian Solar Completes Sale of 3 Utility-Scale Solar Plants to Fengate Real Asset Investments2/6/2017 GUELPH, Ontario, Feb. 6, 2017 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that it has completed the sale of the outstanding shares of 3 utility-scale solar farm holding companies, SSM 1 Solar ULC, SSM 2 Solar ULC, and SSM 3 Solar ULC, totaling 59.8 MW AC ("SSM Portfolio") to Fengate SSM Holdco LP, an affiliate of Fengate Real Asset Investments ("Fengate") for over CAD257 Million (USD195.32 Million). The transaction was closed on February 1, 2017 and the Company expects to recognize the difference between the sales proceeds and the book value of the projects under 'Other income (expenses)' in the income statement for the first quarter of 2017.
The SSM Portfolio is located in Sault Ste. Marie, Ontario, Canada. As part of the deal, Fengate will take over the outstanding debt from Norddeutsche Landesbank Girozentrale and Canadian Solar will provide operations and maintenance services and asset management services. Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, "We are delighted to announce the successful sale of 3 additional solar power plants. To this point, we have sold all of our operating plants of 100 MWdc in Canada, including the BeamLight and Alfred projects sold in December 2016. We value our partnership with Fengate and look forward to deepening our cooperation while we continue to monetize our solar power plants in other countries." "The Sault St. Marie solar portfolio is fully-contracted with a strong operating record," stated George Theodoropoulos, Fengate's Managing Director of Infrastructure for North America. "Fengate and its investors will benefit from this new relationship with Canadian Solar, an experienced and reputable developer and operator that has extensive knowledge of the solar industry." About Canadian Solar Inc. Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 16 years, Canadian Solar has successfully delivered over 17 GW of premium quality modules to over 90 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com. About Fengate Real Asset Investments Fengate is a real asset investment firm that specializes in investment funds with a strategic focus on infrastructure, real estate and private equity. The firm has over $2.9 billion in assets under management with significant experience in Public-Private Partnerships, independent power projects, operating infrastructure assets and real estate developments. Fengate targets high quality investments across North America, Europe and Australia. Fengate has been one of "Canada's Best Managed Companies" since 2007. |
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