Canadian Solar (CSIQ) Secures Rights To 500MW Inner Mongolia Solar Development

500MW seems to be the magic number with these long term projects.  Just yesterday, LDK Solar (LDK) announced a 500MW project of its own in Yancheng City and this morning Canadian Solar (CSIQ) has obtained the rights to develop, operate and maintain a 500MW solar project in Baotou, Inner Mongolia over the next several years.  The project, which is still subject to government approval, will be broken up into 3 phases with the first phase of 100MW to be completed within about two years. 

Shawn Qu, the CEO of CSIQ, commented, “We are honored and proud that Canadian Solar has been chosen to design, install, operate and maintain this showcase 500 MW Solar power plant in the City of Baotou. This project clearly shows the Chinese government’s determination to develop its domestic PV market. Our successful track record of providing high quality modules to many solar power projects around the world helped us to win the development rights for this major project.”

Shares of CSIQ are up about 5% in premarket trading as the stock tries to hang in at support of the 50 day moving average.

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