Canadian Solar Selected for a 112 MWp Solar Power Project in Brazil

GUELPH, Ontario, December 21, 2017

Canadian Solar Inc., one of the world’s largest solar power companies, today announced that it has been awarded a 112 MWp solar photovoltaic (PV) project in the state of Pernambuco, Brazi in the country’s A-4 auction that was just held in December. Canadian Solar will develop and build the project. Construction is planned to start in 2020 and the project is expected to reach commercial operation before January 2021.

The 112 MWp Salgueiro project has been awarded a 20-year Power Purchase Agreement at 145.44 BRL/MWh (approximately US$44/MWh) in the auction. Canadian Solar will supply more than 310,000 PV panels to the project. Once connected to the grid, the plant will generate approximately 255,743 MWh of electricity every year.

“Canadian Solar has participated in all federal PV auctions in Brazil, and we are the only company that has been awarded projects in all of them. We have a strong presence in the Latin America region where we have secured PPAs for over 1 GW of projects. We will continue to strengthen our leading position in the region by expanding our quality late-stage project pipelines in Brazil, Chile, Argentina and Mexico,” commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc.

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 a provider of solar energy solutions, Canadian Solar has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 16 years, Canadian Solar has successfully delivered over 24 GW of premium quality modules to over 100 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publically listed on NASDAQ since 2006.