Friday, June 6, 2008

Canadian Solar Signs US$500 Million Supply Agreement with Neo Solar Power

HSINCHU, Taiwan and JIANGSU, China, June 2 /Xinhua-PRNewswire/ -- Canadian Solar Inc. (CSI; Nasdaq: CSIQ), a global solar module manufacturer, today announced that it signed a five-year supply contract with Neo Solar Power (NSP,3576 TT), a leading manufacturer of high quality solar cells. NSP has been astable supplier to CSI since March, 2007. Under the terms of the new agreement, NSP will supply several hundred megawatts (MW) of solar cells through 2013. The total contract value exceeds US$500 million.

Dr. Quincy Lin, Chairman and CEO of NSP, said, ''We are pleased to extend our existing cooperation by entering into a long term partnership with CSI, an industry leading solar module maker, to support its rapid business expansionin coming years. The confluence of NSP's strength in cell quality and manufacturing efficiency and CSI's solid channel relations with solar system providers, will allow us to deliver an integrated and effective solution in the photovoltaic value chain.''

Dr. Shawn Qu, Chairman and CEO of CSI, commented, ''This agreement will help us ensure continued growth over the next five years and is testament to our ability to establish and secure relationships with strategic suppliers across the solar value chain. NSP has been an invaluable and high-performing supplier to CSI and will be a key partner for us in the execution of our flexible vertical integration model and balanced supply strategy in the future.''

About Canadian Solar Inc. (Nasdaq: CSIQ)

Founded in 2001, Canadian Solar Inc. (CSI) is a vertically integrated manufacturer of solar cell, solar module and custom-designed solar application products serving customers worldwide. CSI is incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years of experience and knowledge in the solar power market and the silicon industry, CSI has become a major global provider of solar power products for a wide range of applications. For more information, please visit .

About Neo Solar Power (3576 TT)

Founded in 2005, Neo Solar Power (NSP) specializes in manufacturing of high quality solar cells. Based in Hsinchu Taiwan, NSP currently has Fab 1 in full production with 90 MW capacity and expects its new Fab 2 to launch production in the third quarter of 2008 with an ultimate capacity of 600 MW. Seasoned through a long history in the semiconductor and solar industry, NSP produces cells with high efficiency and minimum power loss. Leveraging core competence on quality, technology and technical services, NSP aims to become a global leader in the photovoltaic industry and to make solar energy a competitive energy source. More information on NSP, please visit

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