CSI & Iliotec Sign 28-MW Solar Module Deal

Canadian Solar Inc. announced that it has signed two sales contracts with Iliotec Solar GmbH and Iliotec Solar International. Through these two contracts, Iliotec will purchase 28 megawatts (MW) of solar modules and obtain the option for another 20 MW for delivery in 2009 from CSI, with module prices fixed for the first six months.

As one of the leading solar system installers in Germany, Iliotec Solar GmbH has been a continuous customer of CSI since 2005, the company said. Iliotec Solar International designs and implements solar projects around the world.

“These two contracts mark the seventh and eighth annual 2009 sales contracts we have signed with our long-term and loyal European customers in the past month. These contracts typically feature fixed prices for the first six months. The demand and pricing for Canadian Solar’s products remains strong and our order building process for 2009 is well on track,” said Shawn Qu, chairman and CEO of CSI. “With the renewal of the ITC and its application to utilities’ companies in the U.S. we also expect to see strong demand for 2009 in the U.S. market.”

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