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Canadian Solar, Inc. (CSIQ) Announces Major Sales Agreement with Saferay

In a short period of time, Canadian Solar has become one of the world’s largest solar module producers. Today, Canadian Solar took a major step towards further prominence with the announcement they have signed an agreement to sell 81MW of solar modules to Saferay Gmbh.

The sale will be for a fixed price for projects in Germany and will help the company expand its global reach. Canadian Solar is expected to deliver the full 81 MW before the end of the third quarter 2011 and the process has already begun.

Saferay is a Berlin-based spin-off from one of Germany’s leading solar cell manufacturers and has already made an impact within the sector. Commenting on the potential in this new sales agreement, Saferay CEO Dr. Marko Schulz stated, “We are proud to be working with Canadian Solar. The company came out on top of our selection criteria, including quality, reliability, customer service and brand attractiveness to customers. Strong partners, like Canadian Solar, are critical to Saferay’s continued success and fast growth.”

Leading the team at Canadian Solar is Dr. Shawn Qu whom serves as the company’s Chairman and CEO. When asked his thoughts on the sales agreement, Qu was quoted as saying, “We are pleased to be partnering with Saferay. We are both fast growing companies committed to high product quality and customer service. We continue to expand our presence in the largest, most established solar markets, like Germany, while also building our leadership in developing markets. The widely-recognized Canadian Solar brand, along with our commitment to innovation, competitive pricing and service positions us for further growth.”

To learn more about the company as a whole, visit its website at:

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