Canadian Solar Inc. (NASDAQ: CSIQ), one of the world's largest solar power companies, announced that its subsidiary, Canadian Solar Solutions Inc. and Horizon Energy Solutions Inc., have entered into an Engineering, Procurement and Construction (EPC) agreement to construct commercial rooftop solar electricity generating facilities. The initial projects under this agreement are expected to commence construction by July 2012 under Ontario's Feed-In-Tariff Program.
With the largest Solar Panel production facility in Ontario, Canadian Solar provides bankable photovoltaic modules and complete turnkey solutions to its customers.
Horizon Energy Solutions Inc. is a highly successful developer of renewable energy projects and provider of a suite of energy management, metering and conservation services to commercial clients and local distribution companies (LDCs). Horizon Energy Solutions Inc.'s significant investment in Ontario's renewable power infrastructure will create jobs consistent with the objectives of the Green Energy Act and the clean energy produced will benefit the environment.
"We are committed to developing sustainable energy solutions that provide long-term benefits using the best equipment available. Canadian Solar is a respected and acknowledged leader in this field and we are excited to enter into this agreement," said Scott Knapman, Vice President, Horizon Energy Solutions Inc.
Dr. Shawn Qu, the Chairman and Chief Executive Officer of Canadian Solar, commented, "We are pleased to be partnering with Horizon Energy Solutions, given its experience and success in developing renewable energy projects. This latest agreement builds on the considerable momentum we have in Canada and the broader global solar energy market. We continue to leverage Canadian Solar's global brand, proven track record and cost effective quality solar solutions as we pursue new growth opportunities in Canada and worldwide."