Canadian Solar inks 18 MW deal and JV in Japan

Ontario’s Canadian Solar (Nasdaq:CSIQ) said it has signed a joint venture and 18 megawatt distribution deal with Japan’s West Holding.

Canadian Solar is incorporated in Canada, but conducts its manufacturing operations in China (see Canadian Solar signs deals for 700 MW of wafers). It manufactures solar products such as ingots, wafers, solar cells and modules, as well as solar systems for customers worldwide (see Canadian Solar signs distribution agreement in Spain and Canadian Solar signs large supply contract with SolarWorld).

West Holding, an independent distributor of residential solar systems in Japan, said the partnership is expected to help grows its clean energy business as it continues expansion in the Japanese market for photovoltaic modules.

Canadian Solar’s Japanese subsidiary is expected to transfer 14 percent of its shares to West Holding, with Canadian Solar keeping the remaining 86 percent.

West Holding is expected to distribute and sell solar residential rooftop systems designed by the subsidiary Canadian Solar Japan, with a 2010 sales target for this year of about 18 MW. Deliveries started last month.