News | December 28, 2017

Canadian Solar Signs Agreement With Axium Infinity Solar LP To Provide Operations And Maintenance Services For Eight PV Plants Totaling Over 105 MW

Guelph, ON /PRNewswire/ - Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that it has recently signed an Operation & Maintenance agreement with Axium Infinity Solar LP for eight solar PV plants totaling 105.5 MWp.

The eight PV plants, located in Ontario, Canada are Brockville I, Brockville II, Burrits Rapids, Mississippi Mills, William Rutley, and New Liskeard I, III, and IV. Canadian Solar will be responsible for plant monitoring, performance management, preventative maintenance, and corrective maintenance at all eight facilities. Canadian Solar's Operation and Maintenance portfolio in Ontario is now 497 MWp with over 1 GWp in operation or contracted worldwide.

"We selected Canadian Solar to operate and maintain our solar facilities because of their exemplary track record with PV monitoring, maintenance, reporting, and management throughout Ontario," said Juan Caceres, Senior VP at Axium Infrastructure.

"As one of the leading providers of solar products and solutions worldwide for 16 years with extensive experience operating and maintaining our own solar facilities, offering Operations and Maintenance services to customers was a natural extension of our value proposition," said Dr. Shawn Qu, chairman and chief executive officer of Canadian Solar. "We are thrilled to take on responsibility for operations and maintenance for eight of Axium Infinity Solar's PV facilities in Ontario. We look forward to working with them to maximize the energy production, revenues, and profitability from these solar properties."

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 24 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.

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., Indiaand 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 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 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.

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