Canadian Solar Announces 1.5 MW Solar Module Supply Agreement in Jordan

GUELPH, Ontario, Sept. 16, 2014 /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 been awarded a module supply agreement to provide 1.5 MW of photovoltaic ("PV") modules to Kawar Energy for a rooftop solar power project located in a university in Amman, Jordan.

"We made the decision to work with Canadian Solar on the largest solar power rooftop project in Jordan as we trust the quality and performance of its solar modules, as well as its track record of success delivering modules to large scale solar power projects worldwide. These attributes make Canadian Solar a perfect fit for our project needs," said Hanna Zaghloul, CEO of Kawar Energy. "We look forward to continuing our partnership with Canadian Solar."

"We are delighted to partner with Kawar Energy to supply our high efficiency modules to this project. Our quality and reliability makes Canadian Solar stand out from the competition, and we are pleased to win this important module deal in Jordan," commented Dr. Shawn Qu, Canadian Solar's Chairman and Chief Executive Officer. "This agreement is a testament to Canadian Solar's success in emerging markets and it once again underscores our proven track record of delivering top quality modules to solar power projects around the world."

Canadian Solar will supply its high efficiency 72 cell CS6X300P modules with power output respectively of 300Wp to this project. All Canadian Solar modules come with a 10-year material warranty and a 25-year linear power output performance guarantee backed by a third-party insurance policy under-written by leading insurance companies.

About Kawar Energy

Kawar Energy founded in 2008, is an eco-friendly project developer/ EPC, focused on bringing technologies, solutions and services of energy, water and environment projects that are clean, green and sustainable to help our clients reduce and control effectively their long-term energy bill, carbon footprint and ecological impact in Jordan and the Middle East region with a positive socioeconomic affect. Kawar Energy is the latest member of the Kawar Group, www.kawar.com, that traces its roots to the pioneering business spirit of its founders at beginning of the 20th century. The Group dynamism and adaptability to transformations in the business environment and its pursuit for progression in technology and market trends makes it the partner that you can always rely on for success.

About Canadian Solar

Founded in 2001 in Ontario, Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar has an industry leading and geographically diversified pipeline of utility-scale solar power projects as well as a track record of successful solar deployment boasting over 7 GW of premium quality modules installed in over 70 countries during the past decade. Canadian Solar is committed to providing high-quality solar products and solar energy solutions to customers around the world. For more information about our company, products and projects 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 the risks regarding general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of solar grade silicon; demand for solar products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand in our project markets, including Canada, the U.S., Japan and China; changes in customer order patterns; capacity utilization; level of competition; pricing pressure and declines in average selling price; delays in new product introduction; continued success in technological innovations and delivery of products with the features customers demand; delays in utility-scale project approval process; delays in utility-scale project construction; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; trade protectionism in Europe, the U.S. and India; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on April 28, 2014. Although the Company believes that the expectations reflected in its 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.