Canadian Solar Supplying 12.6 Megawatts to Plant in Turkey

Jun 30, 2014 4:08 pm ET

(Updates with closing stock price in fourth paragraph.)

June 30 (Bloomberg) -- Canadian Solar Inc., the third-best- performing solar maker in the past year, agreed to supply 12.6 megawatts of modules for a project in Turkey.

The solar farm in the Kayseri Organized Industry Zone is a joint project of yarn maker Besler Tekstil Sanayi VE Ticaret AS and Hascelik ve Halat Sanaya Ticaret AS, a steel and aluminum manufacturer, Guelph, Ontario-based Canadian Solar said today in a statement. Terms weren’t disclosed.

This is Canadian Solar’s largest order in that country and the second from these buyers as “we are expanding our presence and solidifying our competitive position in Turkey,” Chief Executive Officer Shawn Qu said in the statement.

Canadian Solar has almost tripled over the past 12 months, trailing only JinkoSolar Holding Co. and SunEdison Inc. in the 17-member Bloomberg Industries Global Large Solar Energy Index. The stock gained 4.9 percent to $31.26 at the close in New York today.