Canadian Solar Expands Presence in South American Solar Market

SAO PAULO, Brazil, June 4, 2013 /PRNewswire-FirstCall/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that is has opened a sales and business development office in Sao Paulo, Brazil to expand and strengthen the company's South American sales network and broaden regional customer service capabilities.

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Canadian Solar expands into the emerging South American solar market with a strong product portfolio for commercial, utility-scale and off-grid markets. The company also aims to further its utility-scale project development arm, create residential and commercial customer base in this new market, as solar continues to develop and claim a larger part of the Brazilian renewables matrix.

"South America has long been a promising market for solar, and having a strong presence in Brazil is a strategic move for Canadian Solar," said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. "Canadian Solar has a proven track record of success around the globe and we look forward to replicating this momentum in the South American market. We are also proud to bring on board a new general manager for South America, Claudio Loureiro, who was instrumental in launching Canadian Solar operations in this new market."

"I've always been attracted to great teams and compelling business models, and Canadian Solar hits the mark on both fronts," said Claudio Loureiro, general manager, South America for Canadian Solar. "I look forward to working closely with Canadian Solar customers and partners as we delve deeper into this emerging market to further the company's success in the Americas."

With 11 offices around the world, Canadian Solar's global presence encompasses North America, South America, Europe, Africa, Asia and Australia. The company has delivered more than 4.0 GW of solar modules to worldwide to date.

Canadian Solar will have a presence at several South American events this year, including Intersolar South America, September 18-20, 2013 in Sao Paulo.

Canadian Solar Brazil Office Contact Details

Rua Barao do Triunfo 427
12th floor, Office 1204
Brooklin - Sao Paulo - Brazil
CEP 04602-001
P: +55 11 509 605 25
F: +55 11 509 605 25
E: [email protected]
W: canadiansolar.com  

About Canadian Solar

Founded in 2001 in Canada, Canadian Solar Inc. (NASDAQ: CSIQ) is one of the world's largest and foremost solar power companies. As a leading vertically integrated provider of solar modules, specialized solar products and solar power plants with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia, Canadian Solar has delivered more than 4GW of premium quality solar modules to customers in over 50 countries. Canadian Solar is committed to improve the environment and dedicated to provide advanced solar energy products, solutions and services to enable sustainable development around the world. 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 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 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 in the Canadian markets; changes in customer order patterns; capacity utilization; pricing pressure and declines in average selling prices; 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; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on April 26, 2013. 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