Canadian Solar (CSIQ) Gets Government Funding For Local Solar Projects

China’s government continues to show it is willing to do everythingit can to help advance clean energy initiatives.  So far, it appearscompanies are having a far easier time getting help from China’sgovernment than US based solar companies.  This morning Canadian Solar(CSIQ) is announcing funding from the Suzhou Municipal Government tosupport commercial rooftop and BIPV solar projects in the Suzhou NewDistrict.  The local government is matching the RMB 7.5 million that isbeing provided by China’s Ministry of Finance & Construction for PVinstallations as part of the government stimulus.

Dr. Qu, Chairman and CEO said: “Canadian Solar is proud to announce,in cooperation with the Suzhou New District, that we are the first tojointly develop a municipal PV program using the renewable energystimulus funds in China. These funds will be used to capitalizecommercial rooftop and BIPV projects in the region of the municipality.While this first step is a modest one, it is important for local marketdevelopment. This will give the City and the Company a chance to raiseawareness of the potential of solar power and to set up a modelmechanism that may be duplicated elsewhere, or repeated in the future.We would like to thank the City for considering us as their partner inthis venture and we look forward to its success.”

Shares of CSIQ are trading up about 4% pre market.

Canadian Solar (CSIQ) Gets Government Funding For Local Solar Projects





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