Canadian Solar and HelioPower Complete 500 kW Solar Power System for Giumarra Vineyards Corporation

Published on Thursday, 09 February 2012 05:08 Written by TradersHuddle Staff

PV System to Provide Clean, Renewable Solar Energy to One of Nation's Leading Table Grape Growers, Fulfilling the Company's Key Clean Energy Initiative

SAN RAMON, MURRIETA and BAKERSFIELD, Calif., Feb. 9, 2012 /PRNewswire-Asia-FirstCall/ -- Canadian Solar Inc. (NASDAQ: CSIQ), HelioPower and Giumarra Vineyards Corporation today announced the successful completion of a 516 kilowatt (kW) dc commercial photovoltaic (PV) system in Bakersfield, Calif.

"Giumarra Vineyards has always been a proponent of sustainable and innovative practices for viticulture and other fresh produce. This installation is a significant milestone in our sustainability program and effort to reduce electricity consumption throughout our growing and packing operations," said Sal Giumarra, president of Giumarra Vineyards Corporation. "Canadian Solar and HelioPower's solar installation expertise was instrumental in our ability to further develop distributed clean energy sources to offset costs and carbon emissions."

Canadian Solar's high-performing PV modules and HelioPower's integrated turnkey energy solutions enabled Giumarra Vineyards to complete the initial phase of its clean energy initiative. The installation will use 2,296 Canadian Solar 225P PV modules which will power Giumarra Vineyard's main production and cold storage facility.

"Giumarra Vineyards is one of the largest and most innovative agricultural organizations in the U.S., with a rich history dating back more than 80 years. We are proud to be partnering with Giumarra Vineyards as it embraces the environmentally friendly, clean power of solar energy," said Alan King, general manager of Canadian Solar USA. "We expect Canadian Solar's power-efficient, high-quality PV modules will yield great financial savings for the vineyard. We applaud management's commitment to renewable energy and sustainable business practices."

HelioPower's predictive analytic and load profiling tools identified demand-side energy reduction and distributed generation strategies to reduce Giumarra's levelized cost of energy. HelioPower provided design, engineering, construction, and utility commissioning for the 516 kW ground mounted agricultural solar installation. Successfully commissioned in September 2011, HelioPower delivered the project on schedule and within budget.

"Giumarra Vineyards is pioneering sustainable energy practices in Kern County, demonstrating how growers and food processors in the San Joaquin Valley can successfully implement financially attractive clean energy installations," said Mo Rousso, chief operating officer of HelioPower. "With the help of Canadian Solar's strong support and its extensive knowledge, our team was able to leverage all available incentives to deliver a financially viable project, reducing Giumarra's energy costs and supporting their sustainability strategy."

To view photos of the Giumarra Vineyards installation and access live energy generation data, please visit: http://www.heliopower.com/projects/california/bakersfield/giumarra-vineyards-corp

About Canadian Solar Inc. (NASDAQ: CSIQ)

Canadian Solar Inc. (NASDAQ: CSIQ) is one of the world's largest solar companies. As a leading vertically integrated provider of ingot, wafer, solar cell, solar module and other solar applications, Canadian Solar designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use to customers worldwide. With operations in North America, Europe, Australia and Asia, Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar solutions to support global, sustainable development. For more information, please visit www.canadiansolar.com.

About Giumarra Vineyards Corporation

Giumarra Vineyards Corp., based in Bakersfield, California, has been cultivating table grapes in the San Joaquin Valley for more than 80 years. Today, Giumarra Vineyards is one of the largest table grape growers in the U.S. and a leader in the produce industry with innovative farming practices and the most extensive privately held cross-breeding program in the world, which after a decade of experimental propagations is introducing the new "Arra" family of commercial grape varieties to the U.S. market, as well as to the grower community worldwide. Giumarra also represents an international network of fresh produce growers, distributors and marketers that encompass a full line of fresh fruits and vegetables. The company takes pride in a longstanding commitment and tradition of quality, reliability and innovation to feed the world in a healthy way. For more information, visit: www.giumarra.com.

About HelioPower

HelioPower is an integrated energy solutions company with over 2000 solar and clean energy systems engineered and installed since 2001. We reduce energy costs and develop energy assets by leveraging renewable energy production, demand side management and return on investment strategies for clients in the U.S. and abroad.  For more information, visit http://www.HelioPower.com.

Safe Harbor / Forward-Looking Statements

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include the risks regarding the previously disclosed SEC investigation as well as general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as Germany; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on May 17, 2011. Although the Company believes that the expectations reflected in the forward looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

SOURCE Canadian Solar Inc.