Tuesday, August 21, 2007

CSI SOLAR BUILDING CRYSTAL GROWTH AND SILICON WAFER PROJECT IN CHINA

Asia Pulse, August 20, 2007 Monday 2:12 PM EST

CSI Solar Technologies (Luoyang) Inc., a subsidiary of the Nasdaq-listed Canadian Solar Inc. (Nasdaq:CSIQ), has recently started construction of a crystal growth and silicon wafer project with an annual output capacity of 3,000 tons in Luolong Science and Technology Park of Luoyang, capital city of central China's Henan Province.

The crystal growth and silicon wafer project requires total investment of 1.2 billion yuan (US$158 million), and its first phase project with an annual production capacity of 1,500 tons will go into trial operation in March 2008. When put into full production, it may realize sales revenue of six billion yuan and gross profits and tax of 300 million yuan annually. It will be a new pillar of Luoyang's silicon industry.

By introducing the world's most advanced energy-saving and environment-friendly equipments, the project will boast energy consumption lower than the national standard. The project covers two important links of high-tech content in the industrial chain of polysilicon-monosilicon-solar-grade silicon-solar cell.

CSI Solar Technologies (Luoyang) launched a solar cell modules assembly project with an annual output capacity of 30 megawatts in the Luoyang-based sci-tech park in October of last year, and put it into production in May this year.