Boston, MA 08/06/2014 (wallstreetpr) – Canadian Solar Inc. (NASDAQ:CSIQ) has said that it has powered 4 MW Spanish Estate Solar Project based in St. Croix. It has supplied 4 MW of Canadian Solar PV modules. The Spanish Town Estate Solar Project was acquired by NRG Energy Inc (NYSE:NRG). The project utilizes almost 14,400 high efficiency solar PV modules.
Spanish Town Estate Solar project
The Spanish Town Estate Solar project in the U.S. Virgin Islands began in April 2014. It uses Canadian Solar CS6X-P 305 Polycrystalline PV Modules. The new project is expected to generate electricity that can power more than 1,500 homes. It will also generate direct and indirect jobs. It could generate almost 100 jobs during construction. It will around $3 million of investment into the local economy. NRG has acquired the project and therefore will be the sole owner of the new facility.
The key objective
Canadian Solar Inc. (NASDAQ:CSIQ) has got a large market of solar products in North America. Canadian Solar wants to expand its operations in the other emerging markets including South America, Central America and The Caribbean. The solar company has already started expanding its services in Panama, Brazil and Mexico. It has opened local offices in the mentioned region. Also, the staff appointed is the local staff of the region. It has entered into some of the PV projects based in the regions.
The strength of operations
Canadian Solar Inc. (NASDAQ:CSIQ) Modules are known for their warranty on materials and excellent workmanship. They offer a ten year warranty. Also, the guarantee is applicable on the 25-year linear power output performance. The warranties are further supported by third-party insurance policy. The customers can stay assured as these policies are underwritten by reputed investment grade insurance companies. Canadian Solar Modules will disclose the details of its expansion plans in the second-quarter results conference call scheduled on August 13, 2014.
