Canadian Solar Inc. (Nasdaq:CSIQ) said this morning that it signed a sales contract with Systaic AG of Germany — the latest sign in the company’s penetration of the European market. Systaic will purchase 60 MW of regular solar modules for delivery in 2009.

Canadian Solar also has sales contracts in Italy, the Czech Republic, Spain, and France, and says it is on track to increase sales in these countries.

Shares gained 4%, or $0.50, to $13.26 in pre-market trading. For detailed price information and news stories on Canadian Solar, click CSIQ.

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