April 13, 2010
Source: Canadian Solar Inc.
Canadian Solar Inc. (CSIQ) said it has been awarded Contract Offers for 176 MW of open field photovoltaic power generation projects under Canada's new Feed-in Tariff (FIT) program that is part of the Green Energy and Green Economy Act. Once final approval is obtained, these projects are expected to be completed in 2011 and 2012. The projects were developed, in partnership, with several leading renewable energy developers in the Ontario market, including 3G Energy Corp., Axio Power Inc., Saturn Power and UC Solar.
Canadian Solar expects that it will establish a module manufacturing facility in Ontario by Q1 2011, which is expected to employ approximately 500 people. Further, the company will continue to supply installed solutions that meet Ontario FIT program content requirements for 2010 and 2011. Once final approval is obtained, the Ontario Power Authority will buy 100 percent of the power and renewable energy credits from the Canadian Solar projects under the FIT program.