Canadian Solar Wins Court Case in Relation to Contract Dispute with LDK

   Canadian Solar Wins Court Case in Relation to Contract Dispute with LDK

PR Newswire

GUELPH, Ontario, May 20, 2013

GUELPH, Ontario, May 20, 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 the Jiangsu Suzhou
Intermediate Court dismissed the request by LDK Solar Co., Ltd. (NYSE: LDK) to
enforce the arbitration award decision by the former Shanghai branch of the
China International Economic and Trade Arbitration Commission in the amount of
RMB 248.9 million (approximately US$ 40.1 million). This arbitration award
relates to wafer supply contracts entered into between Canadian Solar and LDK
in October of 2007 and June of 2008, and subsequently terminated. The total
amount of the award includes the initial deposit of RMB 60.0 million
(approximately US$ 9.7 million), but excludes approximatelyRMB 2.0 million to
cover arbitration expenses.

Dr. Shawn Qu, Chairman and Chief Executive Officer, commented, "We are
delighted with the Jiangsu Suzhou Intermediate Court's decision in our favor.
We believe we have conducted our business properly at all times and we will
continue to advocate cooperation rather than confrontation within the solar
industry."

About Canadian Solar

Founded in 2001 in Canada, Canadian Solar Inc. (NASDAQ: CSIQ) is one of the
world's largest and foremost solar power companies. As a leading vertically
integrated provider of solar modules, specialized solar products and solar
power plants with operations in North America, South America, Europe, Africa,
the Middle East, Australia and Asia, Canadian Solar has delivered more than
4GW of premium quality solar modules to customers in over 50 countries.
Canadian Solar is committed to improve the environment and dedicated to
provide advanced solar energy products, solutions and services to enable
sustainable development around the world. For more information, please 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'sSECfilings,
including its annual report on Form 20-F filed onApril 26, 2013. 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, andCanadian
Solarundertakes no duty to update such information, except as required under
applicable law.

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







SOURCE Canadian Solar

Website: http://www.canadiansolar.com
 
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