Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, announced it has acquired exclusive rights to develop an 8 MWp solar photovoltaic (PV) project in Gangwon Province, South Korea, the Company's first solar project there. The construction of this project will start in early 2019.
The South Korea solar market is not new to Canadian Solar. In 2008, Canadian Solar Korea Branch was established. Since then, Canadian Solar has kept the No.1 position in Korea PV market among foreign module makers for 10 years in a row.
"We are excited to further expand our global project development business to South Korea," Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar commented. "The Korean Government has recently increased its solar capacity installation target to 36.5 gigawatts from 5.7 gigawatts in order to generate 20% of electricity from renewable energy sources by 2030. With our high efficiency and high quality module supply capabilities and global solar project development experience, Canadian Solar is ready to support our Korean partners and customers to meet their 2030 solar energy target."
Canadian Solar | http://www.canadiansolar.com