Canadian Solar obtains rights for 500MW plant in Mongolia

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Pending a feasibility study and government approvals, Canadian Solar will obtain rights to design, install, operate, and maintain a 500MW solar power plant system. Under a letter of intent with the Administration Committee of Baotou National Rare Earth Hi-Tech Industrial Development Zone (‘CPT’) in Baotou, Inner Mongolia, the solar power plant will be located in CPT.

The plan is set out in three phases, the first is expected to run from September 2009 to December 2011 and calls for the installation of a 100MW PV system. The second and third phases each call for the installation of 200MW PV systems. There are no binding commitments until the feasibility study is completed and approvals are obtained.

Mr. Fu Ren, the director of the Administration Committee of Baotou National Rare Earth Hi-Tech Industrial Development Zone said, “To have a solar project of such magnitude in Baotou demonstrates our determination to develop the PV end-user market in China, as well as our commitment to cleaner and more sustainable economic development in Baotou. This project also reflects our city’s importance as a center of commerce and commitment to further growth.”

Dr. Shawn Qu, the Chairman and CEO of Canadian Solar, commented, “This project clearly shows the Chinese government’s determination to develop its domestic PV market. Our successful track record of providing high quality modules to many solar power projects around the world helped us to win the development rights for this major project.”

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