Canadian Solar Lands New Projects in the U.S., Japan

Canadian Solar will supply a total of nearly 50 MW worth of its modules to projects on opposite sides of the planet.

Feb 24, 2014 at 9:31PM

Canadian Solar (NASDAQ:CSIQ) will keep itself busy on both sides of the Pacific in the immediate future. The company announced it has inked two deals to supply its products to solar projects in Japan and in North Carolina.

For the former, the company is to provide 18 megawatts of its photovoltaic modules to Japanese conglomerate Hitachi. These will be used in a plant located near the city of Soma, scheduled to begin operation in 2015. Canadian Solar said that, all told, the plant will generate enough power for 5,000 homes, displacing roughly 9,200 tons of carbon dioxide per year.

In the North Carolina deal, the company has been tapped by local renewables firm Strata Solar to supply a set of five projects in the state that will collectively provide 30 MW of power. According to Canadian Solar, the five will together supply energy for around 3,750 households. That number is lower than in the Japan project, but the carbon dioxide displacement is significantly higher, at 21,120 metric tons.

Canadian Solar did not disclose the price, or detailed terms for either deal.

Eric Volkman has no position in Canadian Solar. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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