Canadian Solar Begins Construction on 26.6 MWp of Solar Power Plants in Japan

PVTIME - Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced it has commenced construction on two solar photovoltaic (PV) power projects in Japan.

The first is a 13.6 MWp project in
the Ibaraki Prefecture. The project will be powered by
33,098 pieces of Canadian Solar's
high-efficiency MaxPower modules. Once in operation, the plant is expected
to generate approximately 15,901 MWh of clean, reliable solar
electricity each year, which will be purchased by Tokyo Electric Power
Co., Inc. under a 20-year feed-in-tariff contract at the rate of ¥32.0 ($0.29)
per kWh. The Company expects the project to reach commercial operation by
mid-2021.

The second project is a 13.0 MWp project in the
Fukuoka Prefecture. The plant is expected to generate approximately
15,250 MWh of solar energy each year, which will be purchased by Kyushu
Electric Power Co., Inc. under a 20-year feed-in-tariff contract at the
rate of ¥36.0 ($0.33) per kWh. The project is also expected to
reach commercial operation by mid-2021.

Dr. Shawn Qu, Canadian
Solar's Chairman and Chief Executive Officer commented, "Canadian
Solar continues to develop and construct high quality projects in Japan
with remarkably attractive feed-in-tariffs. We entered the Japanese market in
2009, and since 2014, we have established ourselves as one of the leading
foreign developers in the market, having cumulatively developed and connected
over 290 MWp in utility-scale power plants. While new subsidized programs are
set to expire by 2021, we have a robust pipeline of high feed-in-tariff
projects and continue to see opportunities given the Japanese government's
continued efforts to increase the penetration of renewable energy."

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