Canadian Solar Announce 5 Megawatt Purchase Agreement with Helio Micro Utility
Canadian Solar and Helio Micro Utility Sign 5 Megawatt Purchase Agreement
–New strategic relationship to accelerate Canadian Solar’s U.S. market goals and Helio Micro Utility’s expansion into Investment Grade(TM) product distribution
TORONTO & BERKELEY, Calif., April 9, 2009 /PRNewswire-Asia via COMTEX/ — Canadian Solar Inc. ("the Company" or "Canadian Solar") (Nasdaq: CSIQ) and Helio Micro Utility ("HmU"), the green power pioneer, today announced a five-megawatt solar photovoltaic module purchase agreement. This agreement will expand CSI’s U.S. presence while enabling HmU to accelerate its provision of Investment Grade(TM) equipment to its own projects and other installers.
Dr. Shawn Qu, President and CEO of Canadian Solar, commented, "Canadian Solar is already one of the fastest growing solar manufacturing companies worldwide and this strategic alliance builds our U.S. based team of solar industry experts to accelerate 2009 sales initiatives in this vital market."
Mo Rousso, President and CEO of HmU, stated, "A key part of Helio Micro Utility’s strategy is to provide high quality solar modules at superior pricing and terms for not only our own projects but also for those of our installer partners. This agreement will serve as the foundation for our investment grade systems offerings to our installers."
Distribution will include the full line of Canadian Solar photovoltaic (PV) modules, which cover a wide range of power ratings from 0.03W to 300W. The line is backed by a 25-year performance warranty. All modules meet international standards of quality and safety. Canadian Solar is the first solar module manufacturer in the PV industry to apply ISO: TS16949 (The automotive quality management system) to module production.
Canadian Solar PV modules are used for all types of system applications from large-scale solar farms to commercial and residential rooftop systems. They have been used in some of the largest installations in Europe including the 15 MW project in Majora, Spain, completed in August 2008, one of the largest operating photovoltaic plants in the world.
"Canadian Solar modules represent one of the best performance-to-price ratios we have seen in the industry," added Steven Huang, Vice President / General Counsel for HmU. "The Canadian Solar product has been proven in the worldwide market and will help our U.S. installation partners deliver more solar power systems, designed with highly engineered modules for the best return on investment. We are very pleased to have this opportunity to work with the Canadian Solar product line and management team."
About Helio Micro Utility
Helio Micro Utility (HmU) is the green power pioneer seeking to create the world’s largest clean energy utility, distributed across millions of roofs. HmU contracts with solar installers to build and maintain solar power systems for commercial, residential, and community energy users. HmU customers Buy Power not Panels(TM), with HmU buying the panels instead and owning the complete solar installation. This simplifies the process for energy users to switch from "brown" energy to "green." Helio Micro Utility is headquartered in Berkeley, CA. For more information please visit http://www.HeliomU.com .
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