Canadian Solar Announces Sponsorship of NHL's Los Angeles Kings

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Feb 22, 2012, 05:00 ET

SAN RAMON, Calif., Feb. 22, 2012 /PRNewswire-Asia-FirstCall/ -- Canadian Solar Inc. (the "Company," "we" or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar companies today announced that it has become a sponsor of the National Hockey League's Los Angeles Kings. The Los Angeles Kings are based out of the world famous STAPLES Center in downtown Los Angeles, also home to three other top professional sports franchises and host site of more than 250 events annually.

"Given Canada's rich hockey heritage, it was a perfect fit for Canadian Solar to become a first-time sponsor of the Los Angeles Kings," said Dr. Shawn Qu, chairman and CEO of Canadian Solar Inc. "The Los Angeles Kings have already made exemplary efforts in sustainability. This latest partnership highlights our commonality and provides a meaningful platform for a strong brand and renewable energy message."

According to the California Solar Statistics, in 2011, more than 100 MW of solar power were contracted to California home owners seeking to reduce their carbon footprint, reduce energy costs and contribute to a cleaner environment. Southern California ranks as one of the top solar markets in the country as residents rapidly adopt renewable energy to power their homes. This sponsorship will enable Canadian Solar to increase its visibility in the U.S. and spread its message of sustainability and clean energy to customers, partners and project stakeholders.

"At AEG, we pride ourselves on being a sustainable organization. Partnering with a preeminent sustainable company like Canadian Solar is a no-brainer," said Bill Pedigo, Senior Vice President, Corporate Partnerships from the LA Kings. "The Los Angeles Kings are committed to sustainability, and this sponsorship with Canadian Solar furthers our track record of support of both renewable energy and solar, helping us achieve our goals."

AEG, owner and operator of STAPLES Center, released an environmental sustainability report in 2010, outlining strategies for energy, water and waste reduction. With nearly 4,000,000 visitors a year the STAPLES Center's high visibility makes it well positioned to inspire environmental responsibility and social change.

About Canadian Solar Inc. (NASDAQ: CSIQ)

Canadian Solar Inc. is one of the world's largest solar companies. As a leading vertically integrated provider of ingots, wafers, solar cells, solar modules and other solar applications, Canadian Solar designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use to customers worldwide. With operations in North America, Europe and Asia, Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar solutions to support global, sustainable development. For more information, visit www.canadiansolar.com.

U.S. offices: 12657 Alcosta Blvd, Suite 130, San Ramon, CA94583
Telephone: 1-925-866-2700
Fax: 1-925-866-2704

Safe Harbor/Forward-Looking Statements:

Certain statements in this press release 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 the risks regarding the previously disclosed SEC investigation, as well as 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 Germany; 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; 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 May 17, 2011. 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. You 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.

SOURCE Canadian Solar Inc.