Tokyo Stock Exchange Approves Listing of Canadian Solar Infrastructure Fund

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Sep 25, 2017, 07:00 ET

GUELPH, Ontario, Sept. 25, 2017 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that Canadian Solar Infrastructure Fund, Inc. ("CSIF") has obtained approval from the Tokyo Stock Exchange, Inc. (the "TSE") to list its investment units on the TSE's infrastructure investment fund securities market. Similar to the J-REIT market, the TSE established the infrastructure fund market in 2015 for the listing of funds that invest in infrastructure assets including renewable energy facilities.

Canadian Solar Projects K.K., a wholly owned subsidiary of Canadian Solar, will be the sole sponsor ("Sponsor") of CSIF. CSIF will serve as a long-term investment vehicle for primarily solar energy project assets.

Affiliates of Canadian Solar intend to sell 13 solar energy projects in Japan, with total installed capacity of 72.7 MWp, to CSIF as its initial portfolio. Canadian Solar Asset Management K.K., a wholly owned subsidiary of the Sponsor, will manage CSIF's solar energy projects as its asset manager. Canadian Solar O&M Japan K.K., a wholly owned subsidiary of the Sponsor, will provide operation and maintenance services to CSIF.

Canadian Solar has been operating in the Japanese market since 2009.

This announcement is not an offer of securities for sale in the United States or any other jurisdiction. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the US will be made by means of a prospectus.

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 22 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. For additional information about the company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Canadian Solar's 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 results, 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; cancelation of utility-scale feed-in-tariff contracts in Japan; continued success in technological innovations; litigation; and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on April 27, 2017. 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.

SOURCE Canadian Solar Inc.