Canadian Solar Acquires 47.5 MWp Portfolio in Chile

GUELPH, Ontario, Feb. 6, 2020 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, announced today the acquisition of a 47.5 MWp portfolio of solar projects under development in Chile. These projects will become operational in two different stages, beginning from the fourth quarter of 2020.

The projects will be located in the Araucanía and Maule Regions of Chile and will use approximately 132,000 pieces of Canadian Solar's high efficiency BiHiKu bifacial modules, expected to generate over 89.1 GWh of electricity or power approximately 28,500 households per year. The projects will operate under the PMGD ("Pequeños Medios de Generación Distribuída") scheme, and given their current stage of development, will be part of the current stabilized price regime, with prices updated and published by the CNE (Comisión Nacional de Energía) every 6 months.

Dr. Shawn Qu, Canadian Solar's Chairman and CEO commented, "As reflected in this acquisition, we are highly confident in the value of these small solar projects in Chile. Due to their size and location, they bring clean and reliable energy to rural areas, reducing the distance between power generation and consumption, and improving the quality of the grid. These plants are valuable additions to Canadian Solar's current portfolio in Latin America and solidify our leading position in this region where we have been cumulatively awarded 2.2 GWp in solar projects across Brazil, Chile, Argentina and Mexico."

About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world's largest and foremost solar power companies. It is a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions and has a geographically diversified pipeline of utility-scale solar power projects in various stages of development. Over the past 19 years, Canadian Solar has successfully delivered over 38 GW of premium-quality, solar photovoltaic modules to customers in over 150 countries. 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.

Canadian Solar Inc.
CONTACT: Canadian Solar Inc. Contacts, Ed Job, Managing Director, Investor Relations, Canadian Solar Inc., investor@canadiansolar.com; David Pasquale, Global IR Partners, csiq@globalirpartners.com, Tel: +1-914-337-8801
Web Site: http://www.canadiansolar.com

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