Canadian Solar (NASDAQ: CSIQ), one of the world's largest solar companies, announced an agreement with the Al Fahad Group, a diversified conglomerate with expertise in Defense & Intelligence, Homeland Security, Networking & Communications and Power.
Under the agreement, Canadian Solar will supply more than 1.5 MW of its solar modules to the Al Fahad Group, which is spearheading one of the largest solar PV projects in Abu Dhabi, considered one of the pioneers for renewable energies in the Middle East. This will be a governmental venture, which was agreed upon during the recent World Future Energy Summit (WFES) held in Abu Dhabi.
Canadian Solar's CS5A-M solar modules will be used for the project, as they are ideally settled for the local environmental conditions. "What convinced us to choose Canadian Solar was its proven performance and reliability, high quality and commitment to excellence. High performance under our challenging local climate parameters was at the forefront of our selection process," explained Khaled Obaid Al Othman Al Ali, CEO of AL Fahad Group. "Additionally, we focus on long-term relationships with trustworthy partners. To these belong companies with experience, an extended track record and a very good customer service. With Canadian Solar all these requirements are met."
Fostering renewable energies in the United Arab Emirates
Al Fahad Group offers comprehensive energy solutions for the United Arab Emirates and the GCC (Gulf Cooperation Council) Area for a broad variety of fields of implementation. The Group emphasizes secure and high-quality systems. It is one of the world's thought-leaders of renewable energies.
"We are very proud about our agreement with Al Fahad Group, one of the most important companies for renewable energies in the Emirates, and excited to further build our presence together in the important Middle East market for high value, sustainable energy solutions. Our leadership, quality and cost benefits enable us to work with the best partners in key markets worldwide," said Dr. Shawn Qu, Chairman and CEO of Canadian Solar. "The solar markets in the Middle East and especially in the United Arab Emirates have a great potential for development given commitment of the government and financial system, and forward thinking of key proponents, like the Al Fahad Group."