Canadian Solar to Launch Next-Generation PV Modules on Canada Day, July 1

Rhea-AI Summary

Canadian Solar Inc. (NASDAQ: CSIQ) announced on June 22, 2020, its plan to launch next-generation photovoltaic (PV) modules globally on July 1, coinciding with Canada Day. The new modules promise improved efficiency and lower levelized cost-of-electricity (LCOE). Canadian Solar has established a robust reputation as a technology leader since its founding in 2001, having delivered over 43 GW of solar modules worldwide. The introduction will be accompanied by webinars aimed at various time zones, showcasing the company's commitment to customer service and product innovation.

Positive

• Launch of next-generation PV modules expected to enhance efficiency.
• Webinars scheduled to educate customers worldwide.
• Strong historical performance with 43 GW of modules delivered globally.

Negative

• Potential risks associated with forward-looking statements, including market competition and demand fluctuations.
• Dependence on governmental support for solar deployment may impact growth.

GUELPH, Ontario, June 22, 2020 /PRNewswire/ -- Canadian Solar Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ) announced today that it will launch Next-Generation PV modules worldwide on July 1 to celebrate Canada Day.

Canadian Solar was founded in 2001, in its eponymous country of Canada, and has forged a strong track record as a technology leader and system solutions provider in the global solar industry. To celebrate Canada Day on July 1, the Company will introduce the suite of new modules in five webinars, accommodating customers across different time zones.

The new Canadian Solar PV modules will mark another breakthrough in module efficiency, propelling solar energy to achieve ever lower levelized cost-of electricity ("LCOE"). The new products will be supported by competitive warranties and the highest level of pre- and post-sales service.

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About Canadian Solar Inc.

Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar power companies. It is a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions and has a geographically diversified pipeline of utility-scale solar power projects in various stages of development. Over the past 19 years, Canadian Solar has successfully delivered over 43 GW of premium-quality, solar photovoltaic modules to customers in over 150 countries. Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Safe Harbor/Forward-Looking Statements

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as Japan, the U.S., India and China; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on April 28, 2020. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

View original content:http://www.prnewswire.com/news-releases/canadian-solar-to-launch-next-generation-pv-modules-on-canada-day-july-1-301080894.html

SOURCE Canadian Solar Inc.

FAQ

What is the launch date of Canadian Solar's new PV modules?

The new photovoltaic modules will be launched on July 1, 2020.

What improvements do the new Canadian Solar PV modules offer?

The new modules promise enhanced efficiency and lower levelized cost-of-electricity (LCOE).

How many solar modules has Canadian Solar delivered globally?

Canadian Solar has successfully delivered over 43 GW of solar modules worldwide.

What is the significance of July 1 for Canadian Solar?

July 1 marks the launch of the next-generation PV modules and coincides with Canada Day.

What type of support will accompany the new module launch?

The launch will be supported by competitive warranties and high-quality pre- and post-sales service.