Canadian Solar Subsidiary Recurrent Energy Completes 200 Megawatt Garland Solar Facility

GUELPH, Ontario, Canada, December 14, 2016 – Canadian Solar Inc. (the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ), one of the world’s largest solar power companies, today announced the commercial operation of the 200 MWac/272 MWp Garland Solar Facility in California. The Garland Solar Facility was developed by Canadian Solar’s wholly owned subsidiary Recurrent Energy and is majority owned by Southern Company subsidiary Southern Power.

The Garland facility uses approximately 723,000 Canadian Solar high performance CS6X-P photovoltaic (PV) solar modules mounted on single-axis tracking tables. It generates enough clean solar power to meet the energy needs of approximately 50,000 homes.

“The completion of the Garland project is another example of the Recurrent Energy team’s high-quality execution on our 1.2 gigawatts of 2016 U.S. solar projects,” said Dr. Shawn Qu, chairman and chief executive officer of Canadian Solar.

The facility, which represents Recurrent Energy’s ninth completed solar project in Kern County, California, created 572 peak construction jobs. Signal Energy Constructors provided engineering, procurement and construction services.

Electricity and the associated renewable energy credits (RECs) produced by the Garland Solar Facility will be sold under long-term power purchase agreements to Southern California Edison (SCE).

Additional Resources

About Recurrent Energy

Recurrent Energy, a U.S. subsidiary of Canadian Solar Inc., is redefining what it means to be a mainstream clean energy company, with utility-scale solar plants that provide competitive clean electricity. The company has more than 4 GW of solar projects in development in North America. Additional details are available at: www.recurrentenergy.com.

About Canadian Solar Inc.

Founded in 2001 in Canada, Canadian Solar is one of the world’s largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 15 years, Canadian Solar has successfully delivered over 17 GW of premium quality modules to over 90 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Safe Harbor/Forward-Looking Statements

Certain statements in this press release regarding the Company’s expected future shipment volumes, gross margins, business prospects and future quarterly or annual results, particularly the management quotations and the statements in the “Business Outlook” section, are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the “Safe Harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as “believes,” “expects,” “anticipates,” “intends,” “estimates,” the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as Japan, the U.S., India and China; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company’s SEC filings, including its annual report on Form 20-F filed on April 20, 2016. Although the Company believes that the expectations reflected in the forward looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

Canadian Solar Inc. Contacts
Mary Ma
Senior Supervisor, Investor Relations
Canadian Solar Inc.
investors@canadiansolar.com

David Pasquale
Global IR Partners
Tel: +1-914-337-8801
csiq@globalirpartners.com 

Recurrent Energy Media Relations
Tel: +1-415-501-9533
PR@RecurrentEnergy.com