Canadian Solar enters sales contract with Siemens

ONTARIO (Scrap Monster): Canadian Solar Inc. (NASDAQ: CSIQ), one of the world's largest solar companies, has entered into a sales contract with Siemens.

Under the agreement, Canadian Solar supplied 2.5 MW of solar modules for two solar projects --a rooftop system and a carport -- constructed by Siemens for the University of Murcia, Spain. For both projects, Siemens used Canadian Solar's MaxPower CS6X modules, the company's utility-scale module series.

Due to its larger size, power and performance, MaxPower cuts balance of system costs per watt by optimizing tracker and racking space.

"We are proud that Siemens selected Canadian Solar's modules for this green initiative. We look forward to continuing to partner with global leaders, such as Siemens, to promote the expansion of solar power worldwide," commented Dr. Shawn Qu, Chairman and CEO of Canadian Solar.

The Siemens Energy Sector is the world's leading supplier of a complete spectrum of products, services and solutions for power generation in thermal power plants and using renewables, power transmission in grids and for the extraction, processing and transport of oil and gas.

In fiscal 2011 , the Energy Sector had revenues of EUR27.6 billion and received new orders totaling approximately EUR34.8 billion and posted a profit of more than EUR4.1 billion. On September 30, 2011, the Energy Sector had a work force of more than 97,000.