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Canadian Solar, Inc. (CSIQ) To Provide Modules For Algonquin Power Co. Solar Power Project

|Includes: Canadian Solar Inc. (CSIQ)

Yesterday, Canadian Solar announced that its subsidiary, Canadian Solar Solutions, has signed a 10 MW AC Module Supply Agreement with Algonquin Power Co. The agreement states that Canadian Solar will provide modules for Algonquin Power's utility-scale solar power project in Cornwall, Ontario. Construction is scheduled to begin in the second quarter of 2013. The companies anticipate that the project will be fully operational by the end of the year.

APCO's utility-scale solar plant is expected to include approximately 42,000 Canadian Solar CS6X high performance modules. The modules are covered by a 10-year warranty on materials and workmanship and also a 25-year linear power output performance guarantee. The modules have been awarded key international certifications attesting to their formal quality control inspections and testing.

The terms of Canadian Solar's product and performance warranty are backed by a third-party insurance policy that is underwritten by investment grade insurance companies, ensuring a safe investment for developers, investors, and project owners.

Canadian Solar's CEO, Shawn Qu, remarked, "Algonquin Power is known for building sustainable, long-term renewable energy projects. We are proud that they chose to build their latest project with Canadian Solar modules. Importantly, this further demonstrates Canadian Solar's strength and commitment to the Ontario solar market, as we continue to expand our own large and growing project pipeline."

Mike Snow, APCo's president, added, "Algonquin Power relies on trusted partners to help support our expanding pipeline of renewable energy development projects. We chose Canadian Solar as the module provider for this project because the Company has a track record of high quality and reliability with modules backed by a powerful warranty. We are pleased to be working together and demonstrating a commitment to sustainable alternative energy solutions."

For more information, visit canadiansolar.com

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