Canadian Solar Inc. (the "Company", "we" or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar companies, announced that the Company has signed a 100 MW solar module supply agreement with Fire Energy Group. Under the terms of the supply agreement, module deliveries will occur throughout 2011, with prices adjusted quarterly.
Fire Energy Group is a leading system integrator that provides project management and distribution services in Spain, Germany, Italy, France, the U.S., the Czech Republic, Morocco and China.
Dr. Shawn Qu, Chairman and CEO said: "Canadian Solar and Fire Energy Group have built a successful business relationship over the last few years. Fire Energy Group is now one of our major distributors in Europe with sales channels in Germany and throughout Southern Europe. We look forward to further expanding our relationship as we support their ongoing business expansion."
Mr. John Liu, Chairman and CEO said: "Fire Energy Group has selected Canadian Solar products because of its consistent high quality, reliable delivery and strong customer commitment. Under our latest agreement, we will be using Canadian Solar's 60- cell CS6P and the CS6V large-format module for a variety of rooftop and ground-mounted applications. As Fire Energy Group continues to expand across Europe, it is critical we have a proven partner working alongside us. Canadian Solar is that proven partner."