GUELPH, ON, Nov. 24, 2021 /PRNewswire/ -- Canadian Solar
Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ)
announced today that its subsidiary CSI Solar signed a strategic
cooperation framework agreement with Contemporary Amperex
Technology Co., Ltd. ("CATL"), a global leader of new energy
innovative technologies.
According to the agreement, CSI Solar and CATL will establish a
strategic partnership to cooperate holistically in the areas of
battery storage system solutions, supply of lithium-ion battery
modules, operation and maintenance services of battery storage
projects, and innovative renewable energy technology.
Tan Libin, CATL's Vice President,
commented, "Global demand for battery storage is increasing
dramatically under the backdrop of reaching net-zero emission
goals. Our competitive advantage is on delivering highly
innovative, efficient, competitive, and safe batteries across
various applications, while Canadian Solar is an early mover and
one of the key players in the global battery energy storage
business. Our partnership with Canadian Solar is a perfect match
and allows us to build on both our strengths."
Dr. Shawn Qu, Canadian
Solar's Chairman and CEO, added, "We are delighted to partner
with CATL to support the rapid growth of our battery storage
businesses. The partnership leverages CATL's innovative battery
storage technology and our global reach and experience to provide
best-in-class battery storage solutions to our customers. We now
have a global battery storage pipeline of 21 GWh, including 2.9 GWh
under construction. Our common goal is to use solar and battery
storage technology to support a cleaner, smarter and more reliable
global grid, and do our part in contributing to the acceleration of
the clean energy transition."
About CATL
Contemporary Amperex Technology Co., Limited (CATL) is a global
leader in new energy technology innovation, committed to providing
premier solutions and services for new energy applications
worldwide. In June 2018, the company
went public on the Shenzhen Stock Exchange with stock code 300750.
According to SNE Research, in the year 2020, CATL's EV battery
consumption volume ranked No.1 in the world for four consecutive
years. CATL also enjoys wide recognition by global OEM partners. To
achieve the goal of realizing fossil fuel replacement in stationary
and mobile energy systems with highly efficient electrical power
systems that are generated through advanced batteries and renewable
energy, and promote the integrated innovation of market
applications with electrification and intelligentization, CATL
maintains continuous innovation in four dimensions including
battery chemistry system, structure system, manufacturing system
and business models. For more information, please visit
http://www.catl.com
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar
technology and renewable energy companies. It is a leading
manufacturer of solar photovoltaic modules, provider of solar
energy and battery storage solutions, and developer of
utility-scale solar power and battery storage projects with a
geographically diversified pipeline in various stages of
development. Over the past 20 years, Canadian Solar has
successfully delivered over 63 GW of premium-quality, solar
photovoltaic modules to customers across the world. Likewise, since
entering the project development business in 2010, Canadian Solar
has developed, built and connected over 6.2 GWp in over 20
countries across the world. Currently, the Company has around 430
MWp of solar projects in operation, nearly 7 GWp of projects under
construction or in backlog (late-stage), and an additional 17 GWp
of projects in pipeline (mid- to early- stage). Canadian Solar is
one of the most bankable companies in the solar and renewable
energy industry, having been publicly listed on the 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, including but not
limited to the use of proceeds, 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; volatility, uncertainty,
delays and disruptions related to the COVID-19 pandemic;
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, China and Brazil; 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;
delays in the process of qualifying to list the CSI
Solar subsidiary in the PRC; 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 19, 2021. 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.
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SOURCE Canadian Solar Inc.