Canadian Solar to Provide a 75 MW/ 300 MWh Energy Storage System to the Mustang Solar Project in California

• Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), announced today that it has actually shut a supply contract as well as long-term solution arrangement with Goldman Sachs Renewable Power LLC, part of the Renewable Power Group of Goldman Sachs Asset Management (" Goldman Sachs"), to provide and also incorporate a 75 MW/ 300 MWh lithium-ion battery storage remedy right into the 100 MWac Mustang solar plant in California.

The 75 MW or 4-hour 300 MWh energy storage space system is a retrofit addition to the Mustang solar plant in King's County, California, which was originally developed by Canadian Solar's entirely owned subsidiary Recurrent Energy, LLC (" Recurrent Energy"). The solar plant was connected to the grid in August 2016 and also the project's equity stake was later on offered to Goldman Sachs in May 2019.

Canadian Solar will provide the complete integrated solution, including a lithium iron phosphate-based technology bundle, and all future procedures, upkeep and battery enhancement solutions. Furthermore, the Company will support the storage space service with fully covered capacity as well as performance assurances, making sure system outcome, dependability and also security. Building of the energy storage component of the project will start in early 2021 and also is expected to be functional by the 2nd fifty percent of 2021.

By combining solar PV with sophisticated battery modern technology, Canadian Solar assists its customers to produce and keep solar power during the day for usage in the evening. This approach enables California's power grid to absorb as well as integrate greater levels of reliable, safe and also cost effective renewable resource while contributing to the state's climate mitigation initiatives.

Dr. Shawn Qu, Chairman and also CEO of Canadian Solar, commented, "We are pleased to begin supplying this large-scale solar plus power storage project which will be totally established by Canadian Solar with our very own proprietary technological abilities. The adoption and integration of power storage will boost the usage of solar energy and also meaningfully enlarge our worldwide addressable market."

Dr. Qu added, "We are delighted to partner again with Goldman Sachs to supply clean, cost effective and also end-to-end solar power and also storage solutions to our customers and neighborhood communities. Despite the challenging market background as a result of the pandemic, our groups remain to develop ingenious innovation services as well as perform our business plan. This is a site project, the first of a lot more ahead."