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Canadian Solar completes PV power project in Ningxia

Jan. 6, 2012 (China Knowledge) - Canadian Solar Inc<CSIQ>, one of the world's largest solar companies, conducting all of its manufacturing operations in China, announced yesterday that the completion and grid-connection of a 10-megawatts (MW) ground-mounted photovoltaic (PV) power project in Hongsibao, the Ningxia Hui Autonomous Region.

The project, funded by local firm Ningxia Electric Power Co of State Grid, has been jointly completed by the state-owned company and U.S.-listed Canadian Solar.

Around 13.51 gigawatt hours of electricity will be generated from the project per year, which would reduce carbon dioxide emission by 18,900 tons annually, equivalent to saving 5,200 tons of standard coal, said a person familiar with the matter.

Shawn Qu, Chairman and CEO of Canadian Solar, said the company has started domestic and overseas market expansion, and agreed to sell nine PV projects in Canada for C$470 million in total, adding that China continues to be a major global solar power market in the next few years.

The 10-MW PV project is part of a 50-MW project in Ningxia, which is owned by a joint venture between Ningxia Electric Power and Canadian Solar, bringing the JV's installed solar power capacity to 70 MW.

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