Canadian Solar Completes Sale of Aria Solar Power Plant to Concord Green Energy

Dec 21, 2015, 07:00 ET from Canadian Solar Inc.

GUELPH, Ontario, Dec. 21, 2015 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that its wholly owned subsidiary, Canadian Solar Solutions Inc., completed the sale of the 9 MW AC Aria Solar Plant ("Aria") valued at over CAD $65.6 Million (USD $47.2 Million) to One West Holdings Ltd., an affiliate of Concord Green Energy Inc. ("Concord"). The Aria 9 MW AC solar power plant is located in the Township of Elmvale, Ontario and consists of 48,528 Canadian Solar MaxPower CS6X-300/310P PV modules.

The environmental benefits that will be generated from this solar system are significant. The amount of clean solar energy that the Aria plant will generate is estimated at 15,956 MWh per year, and 277,754 MWh over 20 years. The amount of carbon dioxide that will be displaced during the system's 20 year lifetime is approximately 191,526 metric tons, equivalent to taking approximately 40,321 cars off the road for one year.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, "We are delighted to complete the sale of Aria LP utility-scale solar power plants to Concord Green Energy. This is the fourth project we have delivered to Concord Green Energy and will be an addition to the portfolio of projects we are providing operations and maintenance services on."

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 the past 14 years, Canadian Solar has successfully deployed over 12 GW of premium quality modules in over 70 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 Facebook, Twitter, LinkedIn, or on the website.

About Concord Pacific and Concord Green Energy Inc.

Concord Pacific created Concord Green Energy to explore and support a variety of zero carbon energy producing projects of scale. Planning for infrastructure needs and requirements of Canadians has always been a cornerstone to Canada's first urban master-planned community builder, Concord Pacific. Energy considerations and solutions will be significant to success of sustainable communities of the future. Concord Green Energy has projects at various stages of planning, development, and operation across Canada. Some projects of note include: Red Lily I in Saskatchewan, ROR Project in BC, and a consolidation of solar farms in Ontario. For more information, visit www.concordpacific.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 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 Germany, Japan, the U.S. 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; 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 23, 2015. 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.



RELATED LINKS

http://www.canadiansolar.com