Canadian Solar (CSIQ) is popping this morning after the company announces 120MW in existing and new sales.  30MW of that comes from Spanish company Systaic which is part of annual supply agreement announced last year, so nothing new here.  They don’t get into details in the press release, but they are also announcing it has signed or reconfirming another 90MW of solar modules to be delivered from June to October to 24 customers across Europe, North America and Asia. 

CEO Shawn Qu said, “We are pleased that our efforts have paid off. The recent ‘flight to product quality and financial strength’ by customers, coupled with very competitive pricing have resulted in strong demand for our solar modules. The relationship between Canadian Solar and Systaic is a good example. The two companies have developed a solid partnership since early 2008, and Systaic has been one of our Top 10 customers in 2008. We have supported each other in recent quarters, leveraging Canadian Solar’s compelling product portfolio and financial strengths with Systaic’s strong system integration capability and large footprint in Europe, especially in the key markets of Germany, Spain and Italy. We are looking forward to our ongoing collaboration given both companies commitment to quality workmanship, innovation and service.”

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