DIF Completes Acquisition of Illumination Solar Power Plant from Canadian Solar

Canadian Solar Inc. (the "Company", or "Canadian Solar"), one of the world's largest solar power companies, today announced the sale of the 10 MW AC (14 MW DC) Illumination LP ("Illumination") solar power plant to an affiliate of DIF Infrastructure III ("DIF").

The solar power plant, valued at CAD $65.9 Million (USD$48.4 Million), consists of approximately 47,448 Canadian Solar MaxPower CS6X-300/310P PV modules and is located in Scugog, Ontario. It reached commercial operation on November 13, 2015, and will sell electricity pursuant to a 20-year Independent Electricity System Operator feed-in-tariff contract.

The environmental benefits that will be generated from this solar system are significant. The amount of clean solar energy that the Illumination plant will generate is estimated at 17,892 MWh per year, and 344,697 MWh over 20 years. The amount of carbon dioxide that will be displaced during the system's 20 year lifetime is approximately 237,686 metric tons, equivalent to taking approximately 50,000 cars off the road for one year.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, "We are pleased to announce the sale of Illumination LP to DIF. This marks the third transaction closed between Canadian Solar and DIF, and we thank them for their continued partnership."

About Canadian Solar Inc.

Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and a provider of solar energy solutions, Canadian Solar has a geographically diversified pipeline of utility-scale power projects. In the past 14 years, Canadian Solar has successfully deployed over 12 GW of premium quality modules in over 70 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publically listed on NASDAQ since 2006. For additional information about the company, follow Canadian Solar on Facebook, Twitter, LinkedIn, or on the website.

Source: http://www.canadiansolar.com/

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