Canadian Solar Inc. (the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ), one of the world’s largest solar power companies, today announced that it has been awarded an exclusive module supply agreement to provide photovoltaic (PV) modules totaling 91MW for Soleq Solar (Thailand) Co. Ltd. (Soleq) power plant projects in Thailand.
“We chose to work with Canadian Solar because of their vast industry experience and track record delivering high quality modules to large scale solar power projects worldwide,” said Adam Balin, Soleq. “Canadian Solar understands our requirements for quality and reliability, and is a perfect fit with our focus on maximizing return on investment while generating clean, renewable energy for Thailand.”
“We are honored to be selected to supply our modules for Soleq’s landmark power plants in Thailand,” said Dr.Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. “We are also pleased with the progress of our market diversification strategy to reduce our exposure to European markets and to minimize policy risk. This module supply agreement underscores our success expanding our global footprint, building new customer relationships, and gaining market share in important growth markets.”
The solar power plants will be owned and operated by Soleq. Juwi, one of the world’s leading enterprises in the renewable energy sector, will provide engineering, procurement and construction (EPC) services for seven projects with a total capacity of 61MW located in the provinces of Kamphaeng Phet in the northwest and Ubon Ratchathani in the east. Bouygues Construction, a world leader in building, civil engineering, electrical contracting and maintenance, will provide EPC services for three projects in the Tak and Sukhothai provinces of north-east Thailand.
Canadian Solar will supply its CS6X high output modules for the projects. Module deliveries have already commenced and are expected to be completed in the fourth quarter of 2013.