Canadian Solar expands into India with 33MW solar module sales agreement

August 1, 2011 — Canadian Solar Inc. (NASDAQ:CSIQ), one of the world’s largest solar companies, announced that it has signed a photovoltaic (PV) solar module sales agreement with Cirus Solar Systems Private Limited (Cirus), 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-megawatts (MW) of solar modules in the third and fourth quarters of 2011 at agreed prices denominated in U.S. dollars. The modules are expected to be utilized for solar PV projects that are designed, installed and commissioned by Cirus on behalf of two prominent Indian conglomerates. Initial shipments have already commenced. Read more