Canadian Solar to Receive US$40 Million Loan

                 Canadian Solar to Receive US$40 Million Loan

PR Newswire

GUELPH, Canada, Jan. 31, 2013

GUELPH,Canada, Jan. 31, 2013 /PRNewswire-FirstCall/ -- Canadian Solar Inc. 
(the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's
largest solar power companies, today announced that Credit Suisse will provide
the Company with an up to US$40 million, 1 year tenor loan. The loan will be
used to finance Canadian Solar's previously announced acquisition of 4 solar
projects in Ontario, Canada.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said,
"We continue to attract blue chip financial and construction partners across
the entire project lifecycle.We believe this validates the value of Canadian
Solar's global scale, proven track record, and both project expertise and
quality. This sets us apart in the industry and is allowing us to accelerate
the development of our already strong pipeline in Canada, the U.S. and
worldwide."

About Canadian Solar

Canadian Solar Inc. is one of the world's largest solar companies. As a
leading vertically integrated provider of ingots, wafers, solar cells, solar
modules and other solar applications, Canadian Solar designs, manufactures and
delivers solar products and solar system solutions for on-grid and off-grid
use to customers worldwide. With operations in North America, Europe,
Australia, Africa and Asia, Canadian Solar provides premium quality,
cost-effective and environmentally-friendly solar solutions to support global,
sustainable development. For more information, visit www.canadiansolar.com.

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 the risks regarding 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 in our project markets, including Canada; changes in customer order
patterns; capacity utilization; level of competition; pricing pressure and
declines in average selling prices; delays in new product introduction;
continued success in technological innovations and delivery of products with
the features customers demand; utility-scale project approval process; delays
in utility-scale project construction; 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 27, 2012. 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. You 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.

SOURCE Canadian Solar Inc.

Website: http://www.canadiansolar.com
Contact: Investor Relations Contacts: Ed Job, CFA, Director, Investor
Relations, Canadian Solar Inc., ir@canadiansolar.com; David Pasquale, Global
IR Partners, +1-914-337-8801, csiq@globalirpartners.com or Media/Contact:
Canadian Solar Solutions Inc., Marketing Canada, Suzanne Wilson,
suzanne.wilson@na.canadiansolar.com; +1-519-837-1881
 
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