Unirac forms new subsidiary, partners with Canadian Solar for 30 MW Turnkey Solar Power Solutions in Ontario, Canada

Unirac, North America’s leading provider of infrastructure for solar power systems, and Canadian Solar Solutions Inc., a wholly owned subsidiary of one of the world’s largest solar companies, Canadian Solar Inc. (NASDAQ: CSIQ), announced today, a strategic partnership to offer 30 megawatts (MW) of Canadian Solar’s PV systems with Unirac’s mounting solutions for residential and commercial rooftop installations throughout Canada.

The 30 MW partnership between Canadian Solar Solutions and Unirac provides Ontario customers with a complete best-in-class system solution that enables optimal system design flexibility and the highest levels of system performance for a rapid and continuous return on investment. This partnership will also allow Canadian Solar Solutions’ customers another way to participate in Ontario’s groundbreaking FIT and microFIT programs and earn a return on their investment while helping create a clean environment.

“We are excited about working closely with a strong partner like Canadian Solar Solutions to address the rapidly growing Ontario market for solar energy,” said Doug May, President and CEO of Unirac. “Ontario’s compelling renewable energy reimbursements are paving the way for a more sustainable future, and this partnership provides an ideal platform to provide Ontario customers with superior solar installations designed to perform well over the long term.”

Dr. Shawn Qu, Chairman and CEO, Canadian Solar Inc. remarked, "By partnering together we are able to offer a compelling turnkey solution. We will help nurture growth of the overall Canadian market by enabling customers to optimize rooftop solar energy generation through a combination of Canadian Solar’s distinct PV panels and Canadian Solar Solutions’ additional photovoltaic-related solutions with Unirac’s tested and proven solar mounting solutions. The partnership helps assure optimized power production in a rooftop and ground mount environment."

Unirac is one of the first solar racking systems to meet Ontario’s provincial content requirements. Under the microFIT terms, homeowners and small business owners who develop a project (10 kilowatts or less) that adhere to the 60 percent threshold of local content as mandated by the Ontario Power Authority (OPA) earn between 64.2 and 80.2 cents per kilowatt hour, a price that is guaranteed for 20 years. For projects larger than 10 kilowatts that meet the 60 percent local threshold, the OPA will pay out between 44.3 and 71.3 cents per kilowatt hour, depending on the installation size. The Unirac partnership enhances Canadian Solar Solutions’ domestic content portfolio.