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2020-03-18news

CANADIAN SOLAR SIGNS SOLAR POWER PURCHASE AGREEMENT IN AUSTRALIA WITH AMAZON

GUELPH, Ontario, March 12, 2020 /PRNewswire/ — Canadian Solar Inc. (the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ), one of the world’s largest solar power companies, today announced that its subsidiary Canadian Solar Australia has signed a power purchase agreement (“PPA”) with Amazon.

The solar power will be supplied from the Company’s 146 MWp/110 MWac Gunnedah solar farm, which will reach commercial operation by 2021. The solar farm will utilize Canadian Solar’sBiKu bifacial modules.

The agreement with Amazon is Canadian Solar’s first PPA in New South Wales and marks its strategic entry into the large Australian Consumer and Industrial (“C&I”) PPA market.

“Canadian Solar is very proud to sign this power purchase agreement with Amazon. Our team has worked hard to bring this opportunity to fruition, and we look forward to further collaboration with Amazon, while we bring the Gunnedah project to commercial operation. We are honored to help Amazon meet its renewable energy goals by utilizing our solar technology and development expertise,” said Dr. Shawn Qu, Chairman and Chief Executive Officer at Canadian Solar.

Dr. Shawn Qu continued, “Canadian Solar is a leading developer in the Australian solar market, where we have a pipeline of nearly 1.2 GWp, including 335 MWp of projects ready to build. We look forward to growing our solar projects and solar module supply businesses in Australia, while expanding into other C&I sectors in this region. We see a bright future ahead as Australia continues to expand its renewable energy market.”

SOURCE Canadian Solar Inc.
http://investors.canadiansolar.com/news-releases/news-release-details/canadian-solar-signs-solar-power-purchase-agreement-australia

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