October 10, 2008

Systaic to Buy 60MW of Regular Solar Modules From Canadian Solar

Canadian Solar has signed a sales contract with Systaic of Germany. Under the contract, Systaic will purchase 60MW of regular solar modules for delivery in 2009.

Systaic has been a customer of Canadian Solar (CSI) since the beginning of 2008. To date, CSI's sales contracts in Europe stipulate minimum shipments of approximately 226MW.

These contracts have options for up to an additional 80MW of purchases for total European sales in the range of 226MW to 306MW out of the company's planned capacity of 500MW to 550MW.

Shawn Qu, chairman and CEO of Canadian Solar, said: "We are very pleased to announce the extension of our strategic relationship with Systaic. This marks the 10th 2009 sales contract we have signed in September 2008."