CSI Signs 60-MW Deal with Systaic

Canadian Solar Inc. (CSI) announced that it has signed a sales contract with Systaic AG of Germany. Systaic will purchase 60 megawatts (MW) of regular solar modules for delivery in 2009. Systaic has been a customer of CSI since the beginning of 2008.

“We are very pleased to announce the extension of our strategic relationship with Systaic. This marks the tenth 2009 sales contract we have signed in the past month. Systaic is a large and well-known systems integrator based in Germany with significant design capabilities and projects throughout Europe,” said Shawn Qu, chairman and CEO of CSI.

To date, including this deal with Systaic, CSI’s 2009 sales contracts in Europe call for minimum shipments of approximately 226 MW of modules. These contracts have options for up to an additional 80 MW of purchases for total European sales in the range of 226-306 MW out of the company’s planned capacity of 500-550 MW.

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