Canadian and Spanish Companies co-operate for Solar breakthrough

Two solar energy companies from Canada and Spain have agreed to enter into a sales contract that could lead to the creation of solar energy modules that create 60 megawatts of power.

Canadian Solar Inc. announced on Tuesday that it had entered into an agreement that will send the company's photovoltaic panel products to the Spain-based system integrator Fire Energy Group. By the end of 2010, Fire Energy is expected to have enough products to supply 60 megawatts worth of photovoltaic modules.

The modules will likely be used by FEG to promote solar energy products in a number of countries including Spain, Germany, Italy, the U.S., Czech Republic, Morocco, and China.

"This cooperation is an important step in meeting our customer needs. This agreement secures high-quality solar modules from Canadian Solar, one of the world's most respected and proven producers," said John Liu, FEG's chairman and CEO. "We view this as a win-win cooperation where we can grow together with our new partner. Our shared philosophy is to offer the best service and the best quality at a reasonable price."

Shawn Qu, the Chairman and CEO of Canadian Solar, added that he was hopeful the agreement would help expand its customer base into Europe. According to Reuters, the manufacturer expects to double its shipments in 2010 with increased business in Germany and Italy.