Canadian Solar Supplies More than 35,000 Solar Modules to EOSOL Energies Nouvelles and the Caisse des depots' 8 MW French Solar Power Plant

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Apr 19, 2011, 06:00 ET

PARIS, April 19, 2011 /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 the Company has supplied 8 MW of solar modules to a solar power plant constructed by EOSOL Energies and the Caisse des depots et consignations in Villeneuve de Marsan, Aquitaine, France. The new solar power plant, inaugurated on April 18th is expected to provide the equivalent, in terms of production capacity, to the average annual electricity consumption of 2,500 households.

EOSOL Energies Nouvelles and the Caisse des depots et consignations, grouped under the project company "SAS SOLANDES", were inaugurating their first joint ground-mounted solar power project in Villeneuve de Marsan, located in the French department des Landes. For the new installation EOSOL is using 35,000 high-quality and high-performance Canadian Solar CS6P 230-Watt modules.

The ground-mounted solar plant at Villeneuve de Marsan has an installed capacity of more than 8 MW, representing the consumption of 2,500 households and preventing the emission of 9,180 tons of carbon dioxide (CO2).

In addition to EOSOL Energies Nouvelles and the Caisse des depots et des consignations, FORCLUM, a EIFFAGE group company, was responsible for the electrical installation and SIEMENS, for the supervision, conception and construction (inverters, the electrical system, system monitoring) of the plant.

The 2nd EOSOL solar power plant in partnership with Canadian Solar

The installation of this solar power plant follows another EOSOL and Canadian Solar project, which was put into operation in late 2010. This 1st plant, with 6,000 square meters of solar panels installed in the town of Le Barp, in Aquitaine, France, delivers more than 230 KW of green energy.

M. Bruno BERNAL, President of EOSOL Group declared: "This was an easy decision for EOSOL EN to expand its relationship with Canadian Solar given its meticulous design and production techniques, which ensure a high-yield, long-term performance for their modules. Canadian Solar's solar panels have been field-tested to offer higher energy production and include an industry-leading plus power tolerance. This new plant, on 17 acres in Villeneuve de Marsan is another important project in terms of output installed and corresponds to our common desire to continue our commitment and investment in green projects to generate renewable energies."

Dr. Shawn QU, Chairman and Chief Executive Officer of Canadian Solar, said: "This is another example of Canadian Solar's momentum in a strategic market, leveraging a relationship with a local partner. We are proud of our work with EOSOL and our ability to support this 8 MW solar plant project in Villeneuve de Marsan. Our partners have demonstrated their confidence in the quality, durability and performance of our photovoltaic panels. Our six year product and 25 year performance warranty, which are jointly insured by leading insurance companies in Europe and the U.S., provide our customers solid assurance and protection for their solar investments. This landmark service reflects Canadian Solar's commitment to our customers' and their peace of mind."

About EOSOL Energies Nouvelles

EOSOL Energies Nouvelles is a major player in the development, investment and production of energy from natural resources. Specializing in solar, wind energy, biomass and solar thermal energy, EOSOL EN benefits from the confidence of the Caisse des depots et consignations for the co-financing of their projects and has worked with the best partners in the industry (Eiffage Energie, Siemens, Ingeteam, Forclum Aquitaine…) to strengthen its expertise. Installed two years ago in the science and technology park in Laseris1 in Barp (33), EOSOL Energies Nouvelles is a young company from Aquitaine which, with more than EUR 20M in assets, presents itself as the leading regional producer of electricity from ground-mounted solar energy. For more information, please visit www.eosol-en.com.

About Canadian Solar

Canadian Solar Inc. (NASDAQ: CSIQ) is one of the world's largest solar companies. As a leading vertically integrated provider of ingot, wafer, solar cell, solar module 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, please visit www.canadiansolar.com.

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 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, including customers of our silicon materials sales; changes in demand from major markets such as Germany and Canada; risks associated with building our new Ontario facility; 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 originally filed on June 8, 2009, as amended by its report on Form 20-F/A filed on October 14, 2009. 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.