KITCHENER, ON, Jan. 15,
2025 /PRNewswire/ -- Canadian Solar
Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ), a
global leader in solar power and renewable energy solutions, today
announced the opening of its new global headquarters in
Ontario, Canada. Founded in 2001
by Dr. Shawn Qu in Guelph, Canadian Solar has grown from a
visionary startup into a global powerhouse with around 20,000
employees and operations in more than 20 countries worldwide.
Located in Kitchener, Ontario,
the new headquarters embodies Canadian Solar's commitment to
innovation, sustainability, and its Canadian heritage. The
Kitchener office will serve as the
Company's corporate headquarters as well as several of its
subsidiary companies like e-STORAGE and the module sales and
services business units.
"This is a pivotal moment for Canadian Solar," said Dr.
Shawn Qu, Canadian Solar's Chairman
and CEO. "While we have grown into a global organization, our
roots remain deeply embedded in Ontario, where our journey began 23 years ago.
With our new Kitchener office, we
are bringing together talent from three global business units. This
new headquarters is a testament to our commitment to sustainability
and innovation, as we continue to provide clean energy solutions to
customers worldwide from right here in Ontario."
"It is a great achievement that Kitchener has been chosen as the location for
Canadian Solar's new global headquarters. I am thrilled that one of
the world's largest solar technology companies is continuing to
strengthen their roots in our region. Their mission to power
the world with solar energy will help create a cleaner Earth for
generations to come. I look forward to watching Canadian Solar
continue to lead in the renewable energy sector," said Valerie
Bradford, MP Kitchener South – Hespeler.
"Canadian Solar's decision to expand its global headquarters
here in Kitchener highlights the
strength of our region's innovation ecosystem and our commitment to
building a sustainable future," said Jess Dixon, MPP Kitchener South – Hespeler. "This investment not only
reinforces Canadian Solar's roots in Ontario, but also creates meaningful
opportunities for local talent, economic growth, and leadership in
clean energy solutions. I'm proud to see our community play such a
pivotal role in advancing renewable energy on a global scale."
"Canadian Solar is a leading example of the huge opportunity to
create clean energy jobs right here in Ontario. With this expansion, Canadian Solar
will continue to export low-cost green energy technologies from
Ontario to countries around the
world. Congratulations to the team at Canadian Solar, both in
Kitchener and in Guelph," said Mike
Schreiner, MPP for Guelph and Leader of the Green Party of
Ontario.
"We're thrilled that Canadian Solar has chosen to
#MakeItKitchener, joining the many other organizations that have
seen so much potential in the City of
Kitchener and our local ecosystem that they decided to make
a home here. Establishing their global headquarters in our
community will deepen their connection to our innovation ecosystem
and skilled workforce in Kitchener
and Waterloo Region. Canadian Solar will be an important part of
Kitchener's thriving economy,
bringing new jobs and technologies to cultivate a sustainable
future," said Berry Vrbanovic,
Mayor of Kitchener.
"The opening of Canadian Solar's new headquarters is an exciting
milestone for the company and a testament to its continued growth
and innovation," said Colin
Parkin, President of e-STORAGE. "As we expand our operations
globally, this new office will serve as a hub for e-STORAGE,
fostering collaboration and driving the next wave of innovation in
energy storage solutions. I'm proud of what we will achieve
together."
Thomas Koerner, Corporate
Senior Vice President of Canadian Solar, added: "The opening of
Canadian Solar's new global headquarters in Kitchener Ontario is a bold step forward in
aligning the company's vision with its roots. It reinforces
Canadian Solar's leadership in the global energy transition,
providing a collaborative and innovative space to advance renewable
energy technologies and drive a sustainable future."
About Canadian Solar Inc.
Canadian Solar is one of the world's largest solar technology
and renewable energy companies. Founded in 2001 and headquartered
in Ontario, Canada, the Company is
a leading manufacturer of solar photovoltaic modules; provider of
solar energy and battery energy storage solutions; and developer,
owner, and operator of utility-scale solar power and battery energy
storage projects. Over the past 23 years, Canadian Solar has
successfully delivered around 142 GW of premium-quality, solar
photovoltaic modules to customers across the world. Through its
subsidiary e-STORAGE, Canadian Solar has shipped over 8 GWh of
battery energy storage solutions to global markets as of
September 30, 2024, boasting a
US$3.2 billion contracted backlog as
of November 30, 2024. Since entering
the project development business in 2010, Canadian Solar has
developed, built, and connected approximately 11 GWp of solar power
projects and 3.7 GWh of battery energy storage projects globally.
Its geographically diversified project development pipeline
includes 26 GWp of solar and 66 GWh of battery energy storage
capacity in various stages of development. 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 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, regulatory and economic conditions and
the state of the solar power and battery energy storage
market and industry; geopolitical tensions and conflicts, including
impasses, sanctions and export controls; volatility, uncertainty,
delays and disruptions related to global pandemics; supply chain
disruptions; governmental support for the deployment of solar
power and battery energy storage; future available supplies of
silicon, solar wafers and lithium cells; 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 China,
the U.S., Europe, Brazil and Japan;
changes in effective tax rates; changes in customer order patterns;
changes in product mix; changes in corporate responsibility,
especially environmental, social and governance ("ESG")
requirements; capacity utilization; level of competition; pricing
pressure and declines in or failure to timely adjust 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;
the pipeline of projects and timelines related to them; the ability
of the parties to optimize value of that pipeline; continued
success in technological innovations and delivery of products with
the features that customers demand; shortage in supply of materials
or capacity requirements; availability of financing; exchange and
inflation rate fluctuations; litigation and other risks as
described in the Company's filings with the Securities and Exchange
Commission, including its annual report on Form 20-F filed on
April 26, 2024. 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.
CANADIAN SOLAR INC. INVESTOR RELATIONS CONTACT
Wina Huang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com
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SOURCE Canadian Solar Inc.
