Canadian Solar (CSIQ) has announced a partnership and distribution deal with West Holding of Japan to push further into a growing Japanese solar market. As part of the joint venture, CSIQ will transfer 14% of the shares of the Canadian Solar Japan subsidiary to West Holding. West Holding will be responsible for marketing and distribution of approximately 18MW in residential rooftop solar systems this year.
CSIQ CEO Shawn Qu 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.”
Shares of CSIQ are up about 4% today.