Canadian Solar Signed Two Corporate PPAs for 274 MWp Solar Power Projects in Brazil

Canadian Solar Inc. (the
"Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's
largest solar power companies, today announced that it recently signed
two private power purchase agreements ("PPA") with Braskem S.A. and
COPEL Energia for a total of 274 MWp in solar power projects in Brazil.

Braskem S.A. ("Braskem", NYSE: BAK) is the largest producer of
thermoplastic resins in the Americas and the largest producer of
polypropylene in the United States.
Braskem is committed to a low carbon economy and has implemented
innovative processes to improve its efficiency, competitiveness and
sustainability. Braskem will purchase solar energy through a 20-year PPA
with Canadian Solar, as it strives to reach its sustainability goals.

For this PPA, Canadian Solar will develop and build a 152 MWp project
in the State of Minas Gerais, in the same region as other projects
already developed and built by the Company. Construction will start in
2021 and expected to reach commercial operation before the end of 2022.
This is the first PPA signed directly between Canadian Solar and an
industrial customer in Brazil and sets another landmark for Canadian Solar in this market.

COPEL Energia ("Copel") is part of COPEL Group, one of the top 10 energy trading companies in Brazil
and the largest utility in the State of ParanĂ¡. For the 15-year PPA
with Copel, Canadian Solar will build a 122 MWp project in the State of
Pernambuco in 2021 as the second phase of a project already under
development by the Company.

Both projects will use Canadian Solar's high efficiency bifacial BiHiKu modules.
Once in operation, the combined projects are expected to generate
approximately 610 GWh of clean energy annually, equivalent to the annual
electricity consumption of approximately 250,000 households.

These two corporate PPAs will add to Canadian Solar's Brazilian
portfolio of more than 1.9 GWp of contracted PPAs since the company
entered this market. In the Latin America region, the Company has over 2.6 GWp of awarded and contracted PPAs. 

Dr. Shawn Qu,
Chairman and Chief Executive Officer of Canadian Solar, commented,
"Canadian Solar has established a leadership position in the utility
scale solar market in Brazil and
continues to innovate by setting a new trend yet again with private
PPAs. We are pleased to partner with Braskem and Copel in this deal to
offer integrated energy solutions to our customers, from solar modules to project development and management services. We have a long-term commitment to solar energy in Brazil and it will remain one of our most important markets."