1.2GW module supply agreement

Canadian solar has signed a multi-year module supply agreement with Lightsource bp

Guelph, Ontario, February 5, 2020 — Canadian Solar Inc. (the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ), one of the world’s largest solar power companies, today announced that it has signed a multi-year module supply agreement with Lightsource BP to deliver 1.2 GW of high efficiency polycrystalline solar modules for projects in the US and Australia. Lightsource BP is a global market leader in the development, acquisition and long-term management of large-scale solar projects and smart energy solutions.

The projects will be using Canadian Solar’s polycrystalline bifacial high power BiHiKu (CS3W-PB-AG) and high power HiKu (CS3W-P) modules. Canadian Solar is a worldwide leader in solar cell and module technologies. Bifacial modules generate power from both the front and the rear sides of the module, which increases the power output compared to conventional monofacial modules. The very high output of the BiHiKu bifacial modules will maximize the power generation in a limited area of plant site, while dramatically reducing the Levelized Cost of Electricity (LCOE) of the power plant.

“We are pleased to be working with Canadian Solar to deliver our global pipeline. They are a bankable and industry proven partner for our projects. Our centralized procurement team selected these modules for their high efficiency performance and we look forward to seeing the satisfactory results in the field very soon”, commented Kareen Boutonnat, Chief Operating Officer at Lightsource BP.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, “We are excited about the strong partnership with Lightsource BP that has contributed to the 1.2 GW of module sales commitments. As a solar technology leader, we are working continuously on innovation. I am proud to see that our high-power modules, based on the latest bifacial technology, have been selected for these projects in Australia and the US.”