Canadian Solar has announced a joint venture and an 18MW distribution deal with West Holding, Japan. The agreement specifies a transfer of 14% of the shares in Canadian Solar Japan to West Holding.
Canadian Solar will retain the remaining 86% of the shares, while West Holding will distribute and sell solar residential rooftop systems designed by Canadian Solar Japan. The sales target for 2010 is set at approximately 18MW, the deliveries began back in December 2009.
Shawn Qu, chairman and CEO, said, “West Holding is a leading independent distributor of residential solar systems in Japan and is very experienced in distributing, marketing and selling imported PV modules. This was a key criterion in our selection of this company as one of our partners in Japan. Our high-powered, cost effective modules coupled with their strength as a distributor and local understanding of marketing and sales will help make both companies successful in Japan.”
Takashi Kikawa, CEO of WHD said, “We are very pleased to work with global leader Canadian Solar. The cooperation between our companies will allow us to continue to develop the Japanese market for their PV modules and accelerate our green energy business.”