Canadian Solar Inc. (Nasdaq: CSIQ), one of the world's largest solar companies, is announcing the location and the next steps to establishing a new solar module manufacturing facility in Ontario, Canada at a media conference being held this morning. The facility, located at 545 Speedvale Avenue, West in Guelph, Ontario, Canada, is expected to be ready to commence production early next year, and will be one of the largest solar panel module manufacturing plants in North America. The facility is being developed by Canadian Solar Solutions Inc. -- a wholly owned subsidiary of Canadian Solar.
"The McGuinty government's Green Energy Act is helping to create jobs and build manufacturing facilities across the province," said Brad Duguid, Ontario's Minister of Energy and Infrastructure. "Right here in Guelph, almost 500 Ontarians will help build solar panel modules to support the growing renewables industry in our province and throughout North America."
The new facility will be Canadian Solar's first feed-in-tariff domestic content compliant solar manufacturing facility in Ontario, and will be located between Imperial Road and Speedvale Avenue in Guelph, Ontario. The new facility will be capable of manufacturing 200 megawatts of solar modules a year while employing approximately 500 people in the process.
Dr. Shawn Qu, Chairman and CEO, Canadian Solar said, "We salute the Province of Ontario and its leaders for their exemplary commitment to renewable energy. The issue of climate change is arguably one of the most important challenges we are facing today; therefore, it's inspiring to see such a wide range of groups -- government, business, investors and citizens come together to build a mutually beneficial solution. Through innovation, creativity and hard work, we are able to mitigate climate change and create needed employment."
"Canadian Solar is proud to play a part in the success of the Green Energy Act, added Milfred Hammerbacher, President, Canadian Solar Solutions. "As a result of the forward thinking actions of the Liberal government and the City of Guelph, we are able to bring hundreds of jobs and more environmental sustainability in a very exciting time for renewable energy in Ontario."
The new facility is Canadian Solar's first solar module manufacturing facility in Canada. The site selection for the new manufacturing facility spread all across Ontario, but in the end Guelph was chosen over several major cities. The City was selected as a result of their commitment to making sustainability the hallmark of their community through their Community Energy Initiative.
"The community, as a whole, illustrates in many ways their commitment to sustainability," said City of Guelph's Mayor, Karen Farbridge. "One great example is Guelph Hydro. In keeping with their desire to help build a sustainable community, they will be installing a 100 kW Canadian Solar Solution's turnkey system on their facility's rooftop. The system will be operational next year."
