Canadian Solar to construct 122MW solar projects in US

Canadian Solar announced that it has acquired 11 photovoltaic (PV) solar power plants with a cumulative generating capacity of 122MW to be developed in the US.

The generating capacity of the 11 PV power projects ranges from 2MW to 29MW.

Canadian Solar’s US Projects Team is developing these projects as a part of its strategic move to expand its focus from the sales of pure-play module in the US to deeper collaboration with utility-scale project developers.

Canadian Solar CEO Shawn Qu said the company’s Projects Team complements our business strategy, offering our customers and partners a more complete solution package.

"Additionally, the investment we have made in starting the new U.S. Projects Team signifies our continued commitment to the U.S. market," Qu said.

"The team’s extensive solar experience enabled us to hit the ground running, with 11 projects in less than six months and the ability to now further grow our business in the U.S. market."

Canadian Solar plans to start constructing and developing the first of the 11 PV solar plants in 2012 and has scheduled the last plant to be completed in 2014.

The company is expecting to increase its revenue generating from its project solutions business and is estimating that the gains
would make up 25% of its total revenue in 2012 in comparison to 10% last year.

Canadian Solar is a vertically integrated provider of ingot, wafer, solar cell, solar module and other solar applications, and designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use.