(CSIQ) Canadian Solar Delivers Modules for Saferay

A leading player among the global solar companies, Canadian Solar Inc. (CSIQ) has delivered its solar modules to saferay for an 8.5 MW power plant located in Lindenhof near Neubrandenburg in the German state of Mecklenburg-Vorpommern.

The photovoltaic system will use 36,000 CS6P-P solar modules manufactured and supplied by Canadian Solar. These modules are of high quality, reliability and have the capacity to produce clean and cheap energy. The project company saferay is about to complete the solar park installation with the plant expected to be ready in December 2011.

Recently, in September 2011, saferay completed the Senftenberg II/III 78 MW partial complex in Brandenburg, which is part of the world’s largest 166 MW solar power plant, using modules provided by Canadian Solar. Therefore, with this assistance to build the Lindenhof solar power plant, Canadian Solar has further entrenched its successful collaboration with the German project company.

Again in September, Canadian Solar had supplied its high quality solar modules for a German solar power plant built by GP JOULE GmbH. Built on a 152 hectare surface in the Southern Brandenburg region of Eastern Germany, the open-space solar power plant has a specified output of 70 MW.

GP JOULE has installed approximately 306,000 solar modules on four fields located in a former lignite mining strip in the East German city of Meuro near Senftenberg.

The world is now looking for environmentally-friendly solutions to generate cleaner energy. Riding on this wave, Canadian Solar recently unveiled its proprietary Intelligrated Power solar module series. Intelligrated Power modules integrate the intelligence of panel electronics with specially designed modules to deliver state-of-the-art features that maximize system performance, simplify installation and improve safety, significantly reducing the cost of design and installation.

Canadian Solar is a vertically integrated manufacturer of silicon ingots, wafers, cells, solar modules and custom-designed solar power applications. The company reported an adjusted loss per share of 80 cents in the third quarter of 2011, compared with the Zacks Consensus Estimate of a loss of 51 cents per share.

The company presently retains a short-term Zacks #5 Rank (Strong Sell). We have a long-term Neutral recommendation on the stock. The company mainly competes with Suntech Power Holdings Co. Ltd. (STP).

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