Canadian Solar Signs Agreements to Provide Operations & Maintenance Services for 300 MWp Solar Power Plants in Australia

GUELPH, Ontario, Aug. 21, 2019 /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 signed Operations & Maintenance (O&M) agreements with Gannawarra Solar Farm Pty Ltd, Hayman Solar Farm Pty Ltd and Daydream Solar Farm Pty Ltd for three solar PV plants totaling 300 MWp in Australia.

The Gannawarra Solar Farm near Kerang in western Victoria, co-owned by Wirsol and Edify Energy, is a 60 MWp single-axis tracking solar system with energy storage and it is the first large-scale solar farm in Victoria to date. The Hayman and Daydream solar farms are located in Collinsville of Northern Queensland with a combined capacity of 240 MWp, and are developed by Edify Energy and co-owned by Blackrock and Edify Energy. Canadian Solar will be responsible for plant monitoring, performance management,  and preventative and corrective maintenance in all three facilities.  Canadian Solar's O&M portfolio in Australia is now over 875 MWp with over 2.9 GWp O&M portfolio in operation or contracted worldwide.

"Edify's position as a market leader in Australia provides the opportunity to work in partnership with other world class leaders in renewable energy," said John Cole, Founder and Chief Executive of Edify Energy. "We are excited to be working with Canadian Solar as our O&M contractor on five power stations – four solar farms and an energy storage system – for which we have an ownership stake and are asset manager. Working with Canadian Solar will ensure a continued source of efficient, innovative and reliable renewable energy. We continue to lead the charge towards a smarter and cleaner energy supply for Australia."

Dr. Shawn Qu, Chairman and CEO of Canadian Solar Inc. said, "As one of the leading global providers of solar system solutions for the past 18 years with extensive experience in operating and maintaining our own solar facilities, offering operations and maintenance services to customers is a natural extension of Canadian Solar's value proposition. We are delighted to be selected by Wirsol and Edify Energy to provide O&M services to the 3 solar farms to minimize downtime and increase site availability. We will continue to add value to the Australian energy market by providing the best quality service, maximize production of renewable energy and enhance the value of solar assets through our O&M services."

About Canadian Solar, Inc.

Canadian Solar was founded in 2001 in Canada and is one of the world's largest and foremost solar power companies. It is a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions and has a geographically diversified pipeline of utility-scale power projects in various stages of development. Over the past 18 years, Canadian Solar has successfully delivered over 36 GW of premium quality modules to customers in over 150 countries around the world. Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Canadian Solar 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 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., India 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; delays in the completion of project sales; 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 25, 2019. 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.

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SOURCE Canadian Solar Inc.