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Canadian Solar and Real Goods Solar Announce Supply Agreement

 

SAN RAMON, Calif., June 25, 2012 /PRNewswire-Asia/ – Canadian Solar Inc. (the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ), one of the world’s largest solar companies, and Real Goods Solar, one of the largest residential installers in the country, today announced a supply agreement. Under the agreement, Canadian Solar will supply up to 40 MW of high-performance solar modules to Real Goods Solar to power a range of commercial and residential installations in the United States.

“Canadian Solar is proud to partner with Real Goods, a leader in bringing solar to the residential market, with a reputation for high quality customer service and customer satisfaction,” said Alan King, general manager of Canadian Solar USA. “We commend Real Goods for its market innovations, which are helping drive demand by making solar affordable through attractive financing options and ease of ownership across the United States.

“We are excited to team up with Canadian Solar, and have been impressed with the quality, performance and reliability of the Company’s panels and its commitment to excellence,” said Bill Yearsley, CEO of Real Goods Solar. “Combine that with Canadian Solar’s expansive warranty, and we believe our customers will benefit from a compelling and reliable full service solar solution.”

Canadian Solar’s modules have been awarded key international certifications attesting to the rigors of their formal inspections and testing. The company is ranked among the top of the California Energy Commission’s Solar Electric Incentive Program for their high PTC efficiency ratings. Canadian Solar is focused on delivering the best value in solar with their recognized high-performance solar modules and backstop warranty.

About Canadian Solar

Canadian Solar Inc. (NASDAQ: CSIQ) is one of the world’s largest solar companies. As a leading vertically integrated provider of ingot, wafer, solar cell, solar module and other solar applications, Canadian Solar designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use to customers worldwide. With operations in North America, Europe, Australia and Asia, Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar solutions to support global, sustainable development. For more information, please visit www.canadiansolar.com.

About Real Goods Solar, Inc.

Real Goods Solar, Inc. (Nasdaq: RSOL) is a leading provider of turnkey commercial and residential solar energy solutions, with more than 13,000 solar systems in place. Real Goods Solar has more than 33 years of experience in solar energy, beginning with the sale in 1978 of the first solar photovoltaic panels in the United States. With 16 offices across the West and the Northeast, Real Goods Solar is one of the largest solar energy installers in the U.S. For more information about Real Goods Solar, please visit RealGoodsSolar.com, or call (888) 507-2561.

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 the risks regarding the previously disclosed SEC investigation as well as 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 Germany; 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; 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 27, 2012. 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. You 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.

SOURCE Canadian Solar Inc.

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