Tuesday, October 7, 2008

Canadian Solar Signs 2009 Sales Contract with Iliotec of Germany

TORONTO, Oct. 6 /Xinhua-PRNewswire/ -- Canadian Solar Inc. ('the Company', 'CSI' or 'we') (Nasdaq: CSIQ) today announced that it has signed two sales contracts with Iliotec Solar GmbH and Iliotec Solar International. Through these two contracts, Iliotec will purchase from CSI 28MW of solar modules and obtain the option for another 20MW for delivery in 2009, with module prices fixed for the first six months.

As one of the leading solar system installers in Germany, Iliotec Solar GmbH has been a reliable and continuous customer of CSI since 2005. Iliotec Solar International designs and implements solar projects around the world.

Chairman and CEO Shawn Qu remarked: 'These two contracts mark the seventh and eighth annual 2009 sales contracts we have signed with our long-term and loyal European customers in the past month. These contracts typically feature fixed prices for the first six months. The demand and pricing for Canadian Solar's products remains strong and our order building process for 2009 is well on track. Our customers have also indicated that financing remains available for solar projects in Europe and are moving ahead with their plans. With the renewal of the ITC and its application to utilities' companies in the U.S. we also expect to see strong demand for 2009 in the U.S. market. CSI is the only company in the world that offers both high-efficiency polysilicon modules and cost-effective UMG e-Modules. Combined with our strong and proven customer base, we have are well-positioned us for continuous growth in 2009.'

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 http://www.csisolar.com .

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