Canadian Solar Subsidiary Recurrent Energy Reaches Commercial Operation of 60 Megawatt Barren Ridge Solar Project

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Canadian Solar Inc. (the "Company", or "Canadian Solar") one of the world's largest solar power companies,  announced commercial operation of the 60 MWac/78 MWp Barren Ridge solar photovoltaic (PV) project developed by the Company's wholly owned subsidiary Recurrent Energy.

The Barren Ridge solar project, also known as the RE Cinco project, supplies electricity and associated renewable energy credits (RECs) to the Los Angeles Department of Water and Power (LADWP) under a long-term power purchase agreement.

"We are proud to work with LADWP to bring solar power to the city of Los Angeles and share their commitment to a clean energy future," said Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. "This is the Company's third U.S. solar project to reach commercial operation this year, a milestone that would not be possible without the hard work and collaboration with our partners."

LADWP, which was named among the top 10 utilities connecting the most solar megawatts to the power grid in 2015 by the Smart Electric Power Alliance (SEPA), will use the clean solar electricity produced by the Barren Ridge solar project to power more than 25,000 homes in Los Angeles.

"We are committed to reaching 50 percent renewables by 2030, and this solar project plays an important role in reaching that goal. In addition, large-scale transmission line projects like our Barren Ridge Renewable Transmission Project facilitates a renewable energy hub that brings a thousand megawatts of wind and solar energy into the city of Los Angeles," said LADWP Executive Director of Power System Michael Webster. "By utilizing these new transmission lines and systems, LADWP is bringing renewable energy home."

The Barren Ridge solar project, located in Kern County northwest of Los Angeles, began construction in fall 2015 and created 230 peak construction jobs. In November 2015, U.S. Bancorp Community Development Corporation (USBCDC), a division of U.S. Bank, made a tax equity investment into the Barren Ridge solar project.

"We're proud to be part of an environmentally sustainable solution to the tremendous need for energy in the Los Angeles area. Barren Ridge will also have an impact on the region's economy with the more than 200 jobs it created," said Adam Altenhofen, vice president of U.S. Bancorp Community Development Corporation, a division of U.S. Bank.

In addition to building the Barren Ridge solar project, Recurrent Energy constructed two miles of generation transmission lines to connect the solar project to LADWP's Barren Ridge Switching Station.

About LADWP

LADWP is the nation's largest municipally-owned utility, serving more than 4 million Los Angeles residents. LADWP has provided water and electric service to residents and businesses in Los Angeles for more than 100 years.

About Recurrent Energy

Recurrent Energy, a U.S. subsidiary of Canadian Solar Inc., is redefining what it means to be a mainstream clean energy company, with utility-scale solar plants that provide competitive clean electricity. The company has more than 4 GW of solar projects in development in North America.

About Canadian Solar Inc.
Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 14 years, Canadian Solar has successfully delivered over 16 GW of premium quality modules to over 90 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006.

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