TORONTO - Celestica (TSX:CLS), a Toronto-based global manufacturing company, will be making solar modules for a U.S. company that will supply the Ontario Power Authority under a multi-year agreement announced Monday.
The modules are part of a project awarded to Recurrent Energy of San Francisco as part of the renewable energy Feed-In-Tariff program for the government-owned Ontario power grid.
Production will begin at Celestica's Toronto plant in the second quarter of this year, said Mike Andrade, Celestica's senior vice-president of the Americas.
"It's nice that there's a (green energy) market in our backyard," he said, adding that clean technology is a major growth initiative in the company's Canadian business.
"In Canada, historically we've done most of our business in the IT and communication space and we've made a concerted effort over the last few years to shift our focus to diversifying that."
The Celestica-manufactured photovoltaic modules will be used in the construction of 19 solar power plants that Recurrent Energy has contracted to do under the provincial government program.
Recurrent Energy said it expects to invest hundreds of million dollars in the development, which it says will create about 2,500 jobs in the province.
Last week, Celestica said it sees the opportunity for double-digit growth in revenue in 2011, for the first time in several years.
The revenue growth follows several years of investments in new market segments for Celestica _ particularly aerospace and defence, industrial and healthcare _ and the company anticipates making further investments in such areas in 2011, Muhlhauser said.
No comments:
Post a Comment