Solar

Canadian Solar Signs German Contract and Begins 250 MW Facility in China

Canadian Solar Inc. (CSI) has concluded a 2007 annual sales contract worth Euro 45 million with a leading German customer. CSI has already started to deliver to this contract in March, before official signing, due to immediate demand for the products.

Concurrently CSI held a groundbreaking ceremony for the new 250-megawatt (MW) module manufacturing facility for its plant in Changshu, China, located about 100 kilometers (km) west of Shanghai.

The first phase of the new facility is 20,000 square meter in area and is expected to be completed by November of 2007. When finished, the first phase facility will have a module production capacity of 250 MW. Construction is expected to start in June after receiving final building permits.

“The strong demand we are seeing exemplifies CSI management’s strategies of branding CSI as Tier-One in quality and to form long-term partnership with Tier-One distributors in every geographic market,” said Dr. Shawn Qu, CEO of CSI. “This annual contract, with firm pricing and delivery schedules until the end of year, serves as another example of such a partnership which brings business security and visibility to both CSI and its customers.”