Canadian Solar (CSIQ) Continues Korea Expansion With 10MW LG Deal

Yesterday, Canadian Solar (CSIQ) announced an expansion of the original MOU signed with LG CNS of South Korea last April.  The add on MOU potentially adds another 10MW of solar projects in South Korea for next year.  The country is putting the pieces in place to expand its renewable energy initiative with a Feed in Tariff and portfolio standard program.  FIT programs set renewable energy prices at above market rates while portfolio standard programs require utilities to produce a portion of their electricity using renewable energy sources. 

CSIQ CEO Shawn Qu said, “South Korea has been a good market for Canadian Solar this year and our agreements with LG CNS have played an important role in this success. LG CNS is one of the best solar system integrators and EPC providers and is a well recognized player in the Korean and worldwide solar markets.”

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