SAN RAMON, Calif. and CHARLOTTE, N.C., July 8, 2013 /PRNewswire-FirstCall/ -- Canadian Solar Inc., ("the Company", "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that it was selected by Argand Energy Solutions for a 2.3MW solar power project in Louisburg, North Carolina.
Argand Energy Solutions and Horne Brothers Construction, Inc. began construction of the ground-mounted, utility solar power system on June 3, 2013, with system grid connection targeted for August 2013. Approximately 7,700 of Canadian Solar's CS6X-300P PV Modules will be installed in the solar power project, capable of supplying enough energy to power about 460 homes annually upon completion. Fifth Third Bank provided construction financing for the solar power project.
"Argand is really excited to be starting construction on this project, especially in light of Governor McCrory's declaration of June as Solar Energy Month in North Carolina," commented Erik Lensch President & CEO Argand Energy Solutions, LLC. "We are looking forward to working with landowners in North Carolina that are interested in converting farmland into an income generating asset by hosting a solar farm. These types of projects are a win-win for everyone - the landowner gets income, the county gets more tax revenue, and North Carolina benefits, as companies like Argand hire and train more workers for solar installations. Additionally, the United States takes another step forward towards energy independence and the reduction in the use of carbon based fuels. Canadian Solar's bankability, global brand recognition, proven quality and performance were key factors in our confident selection of the company as our partner for this important solar power project."
The Honorable Pat McCrory, Governor of North Carolina, has declared June 2013 Solar Energy Month in acknowledgement of the State's significant solar energy potential. According to the Solar Energy Industries Association, North Carolina ranked fifth in the nation last year for installed solar energy projects, and is on pace to be ranked fourth in 2013. North Carolina is home to one of the fastest-growing solar energy industries in the United States, attracting solar energy developers, installers, manufacturers and related enterprises. Further, the Governor's proclamation notes that solar installations create jobs, increase local and state revenue and are environmentally sound. The official proclamation can be downloaded via URL: http://governor.nc.gov/sites/default/files/orders-and-proclamations/20130517/Solar%20Month0001.pdf"We are pleased to be selected by Argand Energy Solutions for this attractive project, as we continue to expand our presence in the important U.S. market," said Dr. Shawn Qu, Chairman and CEO of Canadian Solar. "Argand Energy Solutions, like Canadian Solar, has a fast growing presence in the solar power market, with a highly experienced team and commitment to excellence." About Canadian Solar Founded in 2001 in Canada, Canadian Solar Inc. (NASDAQ: CSIQ) is one of the world's largest and foremost solar power companies. As a leading vertically integrated provider of solar modules, specialized solar products and solar power plants with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia, Canadian Solar has delivered more than 5.0 GW of premium quality solar modules to customers in over 50 countries. Canadian Solar is committed to improve the environment and dedicated to provide advanced solar energy products, solutions and services to enable sustainable development around the world. For more information, please visit www.canadiansolar.com About Argand Energy Solutions Argand Energy Solutions and its affiliates have been providing solar energy products and services since 2006. The company has served a variety of commercial, institutional, and residential clientele including a number of colleges, universities, state and local governments. Services include but are not limited to, solar project development and third party ownership, system design, inspection, installation, and maintenance and monitoring. For more information about Argand Energy Solutions, visit www.ArgandEnergy.com. Safe Harbor / Forward-Looking Statements Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include risks regarding general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand in the Canadian markets; changes in customer order patterns; capacity utilization; pricing pressure and declines in average selling prices; delays in utility-scale project approval process; delays in utility-scale project construction; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on April 26, 2013. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law. SOURCE Canadian Solar Inc.