Canadian Solar to Receive US$40 Million Loan

The loan will finance Canadian Solar's previously announced acquisition of 4 solar projects in Ontario, Canada.

GUELPH, Canada, Jan. 31, 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 Credit Suisse will provide the Company with an up to US$40 million, 1 year tenor loan. The loan will be used to finance Canadian Solar's previously announced acquisition of 4 solar projects in Ontario, Canada.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said, "We continue to attract blue chip financial and construction partners across the entire project lifecycle. We believe this validates the value of Canadian Solar's global scale, proven track record, and both project expertise and quality. This sets us apart in the industry and is allowing us to accelerate the development of our already strong pipeline in Canada, the U.S. and worldwide."

About Canadian Solar

Canadian Solar Inc. is one of the world's largest solar companies. As a leading vertically integrated provider of ingots, wafers, solar cells, solar modules and other solar applications, Canadian Solar designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use to customers worldwide. With operations in North America, Europe, Australia, Africa and Asia, Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar solutions to support global, sustainable development. For more information, visit www.canadiansolar.com.