Solar energy panel deal signed

Canadian Solar Inc. (NASDAQ: CSIQ) signed a solar photovoltaic (PV) module sales agreement with Cirus Solar Systems Private Limited, a solar engineering, procurement and construction (EPC) company based in Hyderabad, India.

Under the terms of the agreement, Canadian Solar is expected to deliver 33 MW of solar modules in the third and fourth quarters of 2011.The modules are expected to be used for solar PV projects that are designed, installed and commissioned by Cirus on behalf of two prominent Indian conglomerates. Initial shipments have already begun.

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