03.12.13

Canadian Solar: Loan from National Bank of Canada

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Guelph, Ontario - Canadian Solar Inc., one of the world's largest solar power companies, announced that the National Bank of Canada will provide the Company with up to C$35 million, in short-term construction financing. This credit facility will be used to finance the construction of one of the Company's solar projects in Ontario, Canada.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said, "The addition of National Bank of Canada, a leading Canadian-based financial institution, comes at an important time for Canadian Solar. We continue to gain significant momentum in our business, punctuated with the recent sales of several utility-scale solar projects.  Further bolstering our stable of blue chip financial and construction partners across the entire project lifecycle, this transaction gives us additional flexibility and will allow us to further accelerate the development of our already strong, actionable pipeline in Canada and worldwide."

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 5GW of premium quality solar modules to customers in over 70 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.

SOURCE: Canadian Solar Inc.

Investor Contacts: Ed Job, CFA, Director, Investor Relations, Canadian Solar Inc., ir@canadiansolar.com; or David Pasquale, Global IR Partners, +1-914-337-8801, csiq@globalirpartners.com
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