Canadian Solar to Receive C$35 Million Loan from National Bank of Canada

   Canadian Solar to Receive C$35 Million Loan from National Bank of Canada

PR Newswire

GUELPH, Canada, Dec. 2, 2013

GUELPH, Canada, Dec. 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 the National Bank of
Canada will provide the Company with up to C$35 million, in short-term
construction financing.This creditfacility will be used to finance the
construction of one of the Company's solar projects in Ontario, Canada.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said,
"The addition of National Bank of Canada, a leading Canadian-based financial
institution, comes at an important time for Canadian Solar.We continue to
gain significant momentum in our business, punctuated with the recent sales of
several utility-scale solar projects. Further bolstering our stable of blue
chip financial and construction partners across the entire project lifecycle,
this transaction gives us additional flexibility and will allow us to further
accelerate the development of our already strong, actionable pipeline in
Canada and worldwide."

About Canadian Solar

Founded in 2001 inCanada,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 inNorth America, South America,Europe,Africa,
theMiddle East,AustraliaandAsia,Canadian Solarhas delivered more than
5GW of premium quality solar modules to customers in over 70
countries.Canadian Solaris 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
visitwww.canadiansolar.com.

Safe Harbor/Forward-Looking Statements

Certain statements in this press release, including but not limited to
statements regarding the expected start of construction, date of completion
milestone payment terms, period of service, power production and environmental
impact 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 and the Province of Ontario; 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.

SOURCE Canadian Solar Inc.

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