Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar companies, and Mortenson Construction, a leading engineering, procurement and construction (EPC) Contractor, broke ground on a 2.5 MW PV solar installation in Laurinburg, NC, an agricultural community in Scotland county. The solar project is set to be completed in December 2012.
Canadian Solar, the project owner is responsible for overall project delivery and will supply modules to Mortenson Construction, which will complete the design and engineering services, as well as the installation of the equipment. Developed by Charlotte, NC-based Birdseye Renewable Energy, the PV solar system will be located on a 10-acre site and is expected to generate approximately 3,483 MWh of clean electricity annually, enough to power 300 homes.
"The Laurinburg Solar Farm marks an important milestone for Canadian Solar in the United States," noted Noah Eckert, director of commercial and utility-scale markets, Canadian Solar. "Canadian Solar's goal is to support our customers and partners to bring utility-scale projects to completion. In that vein, we selected Mortenson Construction, a well-regarded and experienced construction firm focused on delivering the highest quality service, to design and build the project."
"It's great to partner with a globally respected company like Canadian Solar because we know we will be working with top quality products," said Mark Donahue, a general manager and vice president of Mortenson Renewable Energy Groups. "It's fulfilling to be working in Laurinburg once again, and we're excited to help North Carolina continue its progression towards becoming a solar power leader in the Southeast."
Canadian Solar is focused on delivering the best value in solar with recognized high-performance modules and backstop warranty. Having already established itself as one of the largest solar module suppliers to the U.S. market, Canadian Solar believes that its expansion into project development provides an opportunity for continued growth and the ability to create jobs at a time when many other solar companies are being forced to cut back. As Canadian Solar continues to expand its project pipeline, the company estimates that its project solutions revenue will make up 25 percent of its total revenue in 2012, compared to approximately 10 percent in 2011.