* Says initial shipments started this month
* Shares up 2 pct
Jan 27 Chinese solar-cell maker Canadian Solar
Inc's (CSIQ.O) said it had agreed to supply 60 megawatts of
photovoltaic modules to Spain's Fire Energy Group in 2010.
Fire Energy, a system integrator, said it will promote
Canadian Solar's PV products in Spain, Germany and Italy.
Initial shipments started this month.
Wednesday's news comes a day after the Italian government
said it will unveil a much-awaited plan for new incentives for
its rapidly-growing solar energy sector on February 11.
However, concerns over a potential deep cut in feed-in
tariffs (FIT) in Germany that could hit solar companies around
the world has left investors jittery. [ID:nN15221233]
In November, Canadian Solar had said it expects to double
shipments in 2010, with major markets, including Germany and
Italy driving demand.
Shares of the company were up 2 percent at $23.39 Wednesday
morning on Nasdaq.
The stock, off about 30 percent from a year-high it hit
earlier this month, is still up eight-fold from a March 2009
(Reporting by Adveith Nair in Bangalore; Editing by Maju