Canadian Solar Inc. (the "Company", "we" or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar companies, announced a further expansion of its activities in the UK solar market. Under the agreement, Canadian Solar will supply 15 MW of solar modules for three UK solar farms, constructed by Spanish renewable energy project company Isolux. These three PV systems, over 15 MW in total, are located in Churchtown, East Langford and Manor Farm, and use Canadian Solar's high quality and high-performing CS6P solar modules. The projects are expected to be completed this June.
"Canadian Solar's global leadership and long track record in the UK market made it the powerful solar module partner we needed to help grow our business together in the UK. Canadian Solar's solar modules have an attractive cost-performance-ratio, high reliability and top quality, along with a 25 year, non-cancellable warranty backed by AM best rated insurance companies in Europeand the U.S. Canadian Solar's leadership and warranty insurance policy definitely helped our project finance on the bank side. This way, we can guarantee our systems' high performance," explained Manuel Codes Diaz, CEO of Isolux.
"Canadian Solar is a dominant presence in the UK alternative energy market. We have been committed to the UK market since founding the Company given our broader penetration of the EU market. We have built out a strong partner, distributor and support network across all market EU markets. As a result, we are in an ideal position to work and further grow with partners, like Isolux. We find time and again that Canadian Solar's quality and innovation leadership set us apart. By adding on the security of a standard module warranty we make the decision to partner with Canadian Solar an easy one," said Dr. Shawn Qu, Chairman and CEO of Canadian Solar.