Canadian Solar, Inc. (the "Company", "we" or "Canadian Solar") (NASDAQ: CSIQ), announced the expansion of its U.S. operations with the opening of a second warehouse facility in Port Elizabeth, New Jersey to provide additional photovoltaic (PV) module storage capacity needed to support the Company's growing business. Arrival of the first shipment of modules is expected in mid-September 2011.
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, remarked, "The opening of our second storage facility underscores the success we are seeing in the important U.S. market. Our new warehouse facility on the East Coast will immediately benefit customers by increasing product availability, shortening product transit times and cutting shipping costs to deliver more competitive pricing."
The warehouse itself utilizes solar energy from its PV rooftop mounted system and is located within two miles of the port, reducing drayage costs from port to warehouse.