Canadian Solar Subsidiary Recurrent Energy receives approval for Build-Transfer Agreement with Entergy on 100 MWac Solar Project in Mississippi

PVTIME - Canadian
Solar Inc.
("Canadian Solar") (NASDAQ: CSIQ), today announced its
wholly-owned subsidiary, Recurrent
Energy, LLC
("Recurrent Energy"), has received unanimous approval
from the Mississippi Public Service Commission on the build-transfer agreement
("BTA") with Entergy Mississippi.

The BTA has a base purchase price of approximately $138.4 million with Entergy Mississippi on the 100
megawatt ("MWac") Sunflower solar
photovoltaic project. With the signing of this BTA, one of the first signed in
the U.S., Entergy will own the largest solar power plant in the state of Mississippi.

"We would like to thank the Commission for its approval
of this build-and-transfer agreement that will allow us to move ahead with the Sunflower project," said Dr. Shawn Qu, Chairman and Chief Executive Officer of
Canadian Solar. "This agreement with Entergy is another milestone that
underscores Recurrent Energy's leadership position in the U.S. solar
development space. We are proud to do our part to expand the use of clean
renewable energy from the sun in Mississippi,
and to advance the goal of building an environmentally-friendly, low-carbon

Recurrent Energy will develop the 100 MWac Sunflower solar
project, located on approximately 1,000 acres of land in Sunflower County, Mississippi. The project will use high-efficiency
from Canadian Solar and single-axis trackers. Construction of the
solar plant is expected to create approximately 360 jobs and the plant will
begin commercial operation by mid-2022. Once operational, Entergy Mississippi
will own the Sunflower project, allowing the
regulated utility to power more than 16,000 homes with clean electricity. 

"Once the Sunflower Solar Facility is complete, we'll
be able to offer renewable energy as part of our customers' energy mix,"
said Haley Fisackerly, Entergy Mississippi
President and Chief Executive Officer. "This facility represents one more
way we are building the utility of the future."