Friday, June 13, 2008

Canadian Solar Announces Delivery of BIPV Modules for 2008 Olympics

JIANGSU, China, June 11 /Xinhua-PRNewswire/ -- Canadian Solar Inc. ('the Company', 'CSI' or 'we') (Nasdaq: CSIQ) today announced it has completed the delivery of 66 KW of BIPV modules for the lamp posts along the Olympic Boulevard from the 'Bird's Nest', the main stadium for the 2008 Olympic Games, to the Olympic Square. This BIPV project sits right on the axis of Beijing, symbolizing the nation's increasing commitment to sustainable development. Over its 25-year operating lifespan, this solar power system, with modules horizontally placed for aesthetic purpose, will still generate more than 1,925,000 Kilowatt hours and reduce CO2 emissions by more than 2750 tons.

Dr. Shawn Qu, Chairman and CEO of Canadian Solar Inc. commented: 'We are very pleased to have won this prestigious contract and be a part of the 2008 Olympics. BIPV directly applies solar technology to architecture, which is a fast growing area of solar applications. Given CSI's years of experience in specialty solar modules and customized solar system design, we are ready to bring our expertise to many other future BIPV projects. China is on its way towards becoming a major solar market, and this contract will help us improve our already strong foot hold in the market.'

China instituted its 'Renewable Energy Law' in 2006, making it mandatory for the State Electric Grid to connect to solar power and pay favorable feed-in tariffs. The execution procedure for this law, however, has yet to be released. Additionally, in August 2007, China's National Development & Reform Commission (NDRC) published its national development strategy for renewable energy. According to this strategy, China targets to install 300 MW cumulative solar generation capacity by 2010 and 1.8 GW by 2020.

About Canadian Solar Inc. (Nasdaq: CSIQ)

Founded in 2001, Canadian Solar Inc. (CSI) is a vertically integrated manufacturer of solar cell, solar module and custom-designed solar application products serving customers worldwide. CSI is incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years of experience and knowledge in the solar power market and the silicon industry, CSI has become a major global provider of solar power products for a wide range of applications. For more information, please visit .

No comments: