Jan 20 2010
A joint venture and 18-MW distribution agreement with West Holding Ltd of Japan was announced by Canadian Solar, a leading provider of ingot, wafer, solar modules, solar cells and other solar applications.
Canadian Solar’s subsidiary in Japan, Canadian Solar Japan, will transfer 14% of its shares to West Holding as per the agreement. The balance of 86% will be retained by Canadian Solar. The residential solar rooftop systems designed by Canadian Solar Japan will be sold and distributed by West Holding. The deliveries of the systems had already begun in December 2009 and the sales target of approximately 18 MW for the year 2010 has been fixed.
Shawn Qu, Chairman and CEO, said that West Holding has experience in distributing, selling and marketing residential solar systems and imported PV modules in Japan. Shawn Qu commented that this was key factor for Canadian Solar to select West Holding as one of its partner in Japan. The combination of Canadian Solar’s high-efficiency solar products and West Holding’s expertise in distributing and marketing will help both the companies to be successful in Japan, Shawn Qu added.
CEO of WHD, Takashi Kikawa, said that the company is delighted to partner with Canadian Solar, a global leader. Kikawa stated that the collaboration with Canadian Solar will enable West Holding to continue to develop the solar market in Japan for its PV modules and spur the growth of green energy business.
Source: http://www.canadiansolar.com