Canadian Solar is building a state-of-the-art solar photovoltaic N-type wafer manufacturing plant with an annual output of 5 GW, which is slated to begin production in March 2024.

Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ), headquartered in Guelph, Ontario, today announced that it is establishing a 5 GW solar PV wafer production facility in Chonburi, Thailand.

Canadian Solar is building a state-of-the-art solar photovoltaic N-type wafer manufacturing plant with an annual output of 5 GW, which is slated to begin production in March 2024. The solar wafers produced at this facility will initially be used at the existing Thailand TOPCon cell manufacturing plant in the same location. From 2025 onwards and once the previously announced 5 GW U.S. cell factory in Jeffersonville, Indiana, becomes fully operational, these wafers will be used as inputs to the Indiana cell factory.

Highlighting the importance of this new facility, Thomas Koerner, Senior Vice President of Canadian Solar, said, "Establishing this solar wafer factory in Thailand is a key milestone that will enable us to better serve our U.S. customers with a more diversified and resilient supply chain, complementing our recently announced investments in the U.S. in solar cell and solar module manufacturing. Importantly, it will also allow us to responsibly meet the new requirements related to the latest and adjusted AD/CVD ruling by the U.S. Department of Commerce."

About Canadian Solar

Canadian Solar was founded in 2001 in Canada and has been listed on NASDAQ since 2006. It is now one of the world's largest solar technology and renewable energy companies. Canadian Solar is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 22 years, Canadian Solar has successfully delivered over 102 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built, and connected over 9 GWp of solar power projects and over 3 GWh of battery storage projects across the world. Currently, the Company has approximately 700 MWp of solar power projects in operation, 8 GWp of projects under construction or in backlog (late-stage), and an additional 17 GWp of projects in advanced and early-stage pipeline. In addition, the Company has a total battery storage project development pipeline of 52 GWh, including approximately 2 GWh under construction or in backlog, and an additional 50 GWh at advanced and early-stage development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.