Canadian Solar Acquires 47.5 MWp Portfolio in Chile

PVTIME - Canadian Solar Inc. (the "Company", or
"Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar
power companies, announced today the acquisition of a 47.5 MWp portfolio of
solar projects under development in Chile. These
projects will become operational in two different stages, beginning from the
fourth quarter of 2020.

The projects will be located in the Araucanía and Maule Regions of Chile and will use approximately 132,000 pieces of
Canadian Solar's high efficiency BiHiKu bifacial modules, expected to generate over 89.1 GWh
of electricity or power approximately 28,500 households per year. The projects
will operate under the PMGD ("Pequeños Medios de Generación
Distribuída") scheme, and given their current stage of development, will
be part of the current stabilized price regime, with prices updated and
published by the CNE (Comisión Nacional de Energía) every 6 months.

Dr. Shawn Qu,
Canadian Solar's Chairman and CEO commented, "As reflected in this
acquisition, we are highly confident in the value of these small solar projects
in Chile. Due to their size and location, they
bring clean and reliable energy to rural areas, reducing the distance between
power generation and consumption, and improving the quality of the grid. These
plants are valuable additions to Canadian Solar's current portfolio in Latin America and solidify our leading position in
this region where we have been cumulatively awarded 2.2 GWp in solar projects
across Brazil, Chile,
Argentina and Mexico."


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