GUELPH, Ontario, Sept. 6, 2018 /PRNewswire/ — Canadian Solar Inc. (the “Company” or “Canadian Solar”) (CSIQ), one of the world’s better solar ability companies, appear that it has completed the auction of three added solar ability plants accretion 30.4 MWp for JPY11.5 billion (US$103.1 million) to the Canadian Solar Basement Fund, Inc. (“CSIF”, Tokyo Stock Barter ticker 9284) in Japan. This expands CSIF’s accepted accommodation to 105.6 MWp from 75.2 MWp.
The 30.4 MWp portfolio consists of the 27.3 MWp Daisen-cho Bulb (CS6X-320P) in Tottori Prefecture, the 2.1 MWp Ena-shi Bulb (CS6U-325P) and the 1 MWp Takayama-shi Bulb (CS6U-330P) in Gifu Prefecture. The plants accomplished bartering operation in August, September and October 2017, respectively. The electricity generated is actuality awash beneath 20-year feed-in-tariff affairs at the amount of JPY40/kWh, JPY32/kWh and JPY32/kWh, respectively.
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, “We are admiring to complete the added solar ability bulb asset bead bottomward to our accomplice CSIF in Japan. This is addition archetype of our acknowledged all-around asset monetization strategy, which is the foundation for architecture greater amount for Canadian Solar and all shareholders. Our asset administration aggregation is accomplishing an accomplished job active on CSIF’s advance action in Japan and has bound beyond the important 100 MWp anniversary threshold. We apprehend there will be added mutually benign asset bead bottomward opportunities with CSIF in the future.”
About Canadian Solar Basement Fund
CSIF was launched on the Tokyo Stock Barter as an basement advance armamentarium aftermost October with antecedent accommodation of 72.7 MWp. Accommodation added to 75.2 MWp in February 2018 afterwards the aboriginal asset bead bottomward of two added solar ability plants accretion 2.5 MWp from Canadian Solar. In adjustment to armamentarium the aloof completed added asset bead down, CSIF completed a added accessible alms of 46,667 units priced at JPY102,180 per assemblage on September 6, 2018. Canadian Solar subscribed to 7,000 units in the follow-on alms and expects to advance its about 15% buying of CSIF. CSIF’s absolute assets beneath administration (“AUM”) is JPY47.493 billion (US$427.4 million) afterwards giving aftereffect to the offerings and acquisitions, application the boilerplate action appraisal address amounts for absolute assets and accretion amount for these new assets. Canadian Solar Asset Administration K.K., a wholly endemic accessory of the Company, manages CSIF as its asset manager. Canadian Solar O&M Japan K.K., a wholly endemic accessory of the Company, provides operation and aliment casework to CSIF.
About Canadian Solar
Founded in 2001 in Canada, Canadian Solar is one of the world’s better and foremost solar ability companies. As a arch architect of solar photovoltaic modules and provider of solar action solutions, Canadian Solar has a geographically adapted action of utility-scale ability projects in assorted stages of development. In the accomplished 17 years, Canadian Solar has auspiciously delivered over 29 GW of exceptional affection modules to over 100 countries about the world. Furthermore, Canadian Solar is one of the best bankable companies in the solar industry, accepting been about listed on NASDAQ back 2006. For added advice about the Company, chase Canadian Solar on LinkedIn or appointment www.canadiansolar.com.
Canadian Solar Safe Harbor/Forward-Looking Statements
Certain statements in this columnist absolution are advanced statements that absorb a cardinal of risks and uncertainties that could account absolute after-effects to alter materially. These statements are fabricated beneath the “Safe Harbor” accoutrement of the U.S. Private Securities Action Reform Act of 1995. In some cases, you can yze advanced statements by such agreement as “believes,” “expects,” “anticipates,” “intends,” “estimates,” the abrogating of these terms, or added commensurable terminology. Factors that could account absolute after-effects to alter accommodate accepted business and bread-and-er altitude and the accompaniment of the solar industry; authoritative abutment for the deployment of solar power; approaching accessible food of high-purity silicon; appeal for end-use articles by consumers and account levels of such articles in the accumulation chain; changes in appeal from cogent customers; changes in appeal from above markets such as Japan, the U.S., India and China; changes in chump adjustment patterns; changes in artefact mix; accommodation utilization; akin of competition; appraisement burden and declines in boilerplate affairs prices; delays in new artefact introduction; delays in utility-scale action approval process; delays in utility-scale action construction; delays in the achievement of action sales; connected success in abstruse innovations and commitment of articles with the appearance barter demand; curtailment in accumulation of abstracts or accommodation requirements; availability of financing; barter amount fluctuations; action and added risks as declared in the Company’s SEC filings, including its anniversary address on Form 20-F filed on April 26, 2018. Although the Company believes that the expectations reflected in the advanced attractive statements are reasonable, it cannot agreement approaching results, akin of activity, performance, or achievements. Investors should not abode disproportionate assurance on these advanced statements. All advice provided in this columnist absolution is as of today’s date, unless contrarily stated, and Canadian Solar undertakes no assignment to amend such information, except as appropriate beneath applicative law.
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