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Canadian Solar Completes the Sale of Two Solar Power Plants to TransCanada



  Canadian Solar Completes the Sale of Two Solar Power Plants to TransCanada

PR Newswire

GUELPH, Ontario, Oct. 2, 2013

GUELPH, Ontario, Oct. 2, 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 its wholly owned
subsidiary, Canadian Solar Solutions Inc., has completed the sale of two solar
power plants, Brockville 2 and Burritts Rapids, totalling 16.0 megawatt AC and
 valued at over C$95.0 million ($92.2 million), to TransCanada Corporation
(TSX, NYSE: TRP) ("TransCanada") on September 30, 2013

"We are delighted to announce the completion of the sale of these two
projects, underscoring the success of our partnership with TransCanada, one of
North America's most successful energy infrastructure companies," commented
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc. "The
Canadian Solar team has now taken several large solar power projects from the
very initial stages of development all the way through design, engineering,
construction and final sale to the end customer. Our proven solar project
experience, global brand, and comprehensive partner network -- encompassing
financing through construction – sets Canadian Solar apart and positions us as
a leading provider of solar power solutions with global reach."

The Brockville 2 solar power plant totals 9.0 megawatt AC and is located in
the city of Brockville in Eastern Ontario. The Burritts Rapids solar power
plant totals 7.0 megawatt AC and is located in the city of Ottawa in Eastern
Ontario. These two projects are part of the nine solar power plant portfolio
totaling 86 megawatts AC that Canadian Solar Solutions Inc. has agreed to
build and sell to TransCanada for approximately C$470 million. This
transaction follows the previously announced closing of the sale of Brockville
1 to TransCanada on June 28, 2013.

About TransCanada

With more than 60 years' experience, TransCanada is a leader in
the responsible development and reliable operation of North American energy
infrastructure including natural gas and oil pipelines, power generation and
gas storage facilities. TransCanada operates a network of natural gas
pipelines that extends more than 68,500 kilometres (42,500 miles), tapping
into virtually all major gas supply basins in North America. TransCanada is
one of the continent's largest providers of gas storage and related services
with more than 400 billion cubic feet of storage capacity. A growing
independent power producer, TransCanada owns or has interests in over 11,800
megawatts of power generation in Canada and the United States. TransCanada is
developing one of North America's largest oil delivery systems. TransCanada's
common shares trade on the Toronto and New York stock exchanges under the
symbol TRP. For more information visit: www.transcanada.com or check us out on
Twitter @TransCanada or http://blog.transcanada.com.

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
5GW of premium quality solar modules to customers in over 70
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's SEC filings,
including its annual report on Form 20-F filed on April 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, and Canadian
Solar undertakes no duty to update such information, except as required under
applicable law.

SOURCE Canadian Solar

Website: http://www.canadiansolar.com
Website: http://www.transcanada.com
Contact: Canadian Solar Inc. Contacts -- Investors, Ed Job, CFA, Director,
Investor Relations, Canadian Solar Inc., ir@canadiansolar.com; David Pasquale,
Global IR Partners, Tel: +1-914-337-8801, csiq@globalirpartners.com; or Media,
Suzanne Wilson, Canadian Solar Solutions Inc., +1-519-837-1881,
Suzanne.wilson@canadiansolar.com; Songul Atacan, Canadian Solar Inc., Director
of Marketing, Americas, songul.atacan@canadiansolar.com; or, TransCanada
Contacts, Media Enquires: Grady Semmens/Shawn Howard, 403.920.7859 or
800.608.7859; Investor & Analyst Enquiries: David Moneta/Terry Hook/Lee Evans,
403.920.7911 or 800.361.6522
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