Canadian Solar (CSIQ) Announced 81MW Germany Deal

Canadian Solar (CSIQ) announced yesterday that they landed a 81MW deal to sell 81MW of solar modules to fast growing Berlin-based solar developer Saferay.  The modules have already begun shipping and the entire order will be shipped by the end of Q3.

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Dr. Shawn Qu, Chairman and CEO of Canadian Solar, said, "We are pleased to be partnering with Saferay.  We are both fast growing companies committed to high product quality and customer service.  We continue to expand our presence in the largest, most established solar markets, like Germany, while also building our leadership in developing markets.  The widely-recognized Canadian Solar brand, along with our commitment to innovation, competitive pricing and service positions us for further growth.”

Shares of CSIQ didn’t move up on the news and continue to struggle along with entire solar sector.  It still looks like shares need to test support around the 2010 lows.

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