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Canadian Solar To Supply Modules To Saudi Aramco's KAPSARC Solar Power Project

GUELPH, Ontario, Oct. 21, 2013 /PRNewswire-FirstCall/ -- Canadian Solar Inc. (NASDAQ: CSIQ) (the "Company", or "Canadian Solar"), one of the world's largest solar power companies, today announced that it has been awarded a contract to supply 1.78MW to Saudi Aramco's KAPSARC ("King Abdullah Petroleum Studies and Research Center") solar power project in Saudi Arabia.

Following a very detailed and intense selection process Saudi Arabian Oil Company ("Saudi ARAMCO), the world's largest crude oil producer, has awarded Canadian Solar a contract to supply 1.78MW of its high quality solar panels to the extension of the KAPSARC Solar Power Project which, once completed, will be largest ground mounted solar photovoltaic ("PV") power plant in Saudi Arabia.

"After a long and detailed testing and registration process we are honored to become a certified supplier to Saudi ARAMCO as well as to be the first solar PV panel manufacturer to supply panels directly to Saudi ARAMCO for the prestigious KAPSARC project. Our high quality CS6X series solar panels will be used for the implementation of this project on the grounds of KAPSARC in Riyadh. We believe that this flagship project will also be a determining factor to select and qualify technology partners with bankable solar power solutions and proven track record to ensure the successful execution of Saudi Arabia's ambitious 16GW solar PV energy development program," commented Dr. Shawn Qu, Chairman and CEO of Canadian Solar.

This contract win represents another step in Canadian Solar's successful efforts to expand its global footprint and industry leading customer base in emerging new markets, and follows previous contract wins in the gulf region, underlying the trust of Middle-Eastern customers in the Company's solar products.

The Company's solar panels have undergone rigorous formal inspections and testing, and have received prominent international quality certificates, including "Desert Proof certificate-Blowing Sand Test". In addition, Canadian Solar panels are covered by a 10-year warranty on materials and workmanship, along with a 25-year linear power output performance guarantee. The Company's product and performance warranty is further backed by a third-party insurance policy that is underwritten by investment grade insurance companies, ensuring a safe investment for developers, investors and project owners.

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