Recurrent Energy announces commercial operation of 71 MW North Carolina solar project
Tuesday, Oct 24, 2017
Recurrent Energy, a wholly owned subsidiary of Canadian Solar Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ), today announced the commercial operation of the 71 MWac/92 MWp IS-42 solar photovoltaic project, located in Cumberland County, North Carolina.

"The completion of the IS-42 project is an important milestone in our ongoing commitment to deliver cost-effective solar power to markets across the U.S.," said Dr. Shawn Qu, chairman and chief executive officer of Canadian Solar. "This is Recurrent Energy's first completed project in North Carolina, and we continue to see great potential in the state."

The project has a long-term Power Purchase Agreement with Duke Energy Progress, and is capable of producing enough clean electricity to power more than 11,000 homes. In September 2017, Recurrent Energy entered into an agreement for the sale of 99 percent of its Class B membership interest in the project to Falck Renewables S.p.A., with closing expected in November 2017.

DEPCOM Power provided Engineering, Procurement and Construction for the project and will also deliver Operations and Maintenance services. Of the 275 peak construction jobs created by the project, 95 percent were local hires, and 30 percent were U.S. veterans in keeping with the project's veteran hiring program requirements.

A project dedication event is taking place today, October 23, 2017.

About Recurrent Energy


Recurrent Energy is a leading utility-scale solar project developer, delivering competitive, clean electricity to large energy buyers. Based in the U.S., Recurrent Energy is a wholly owned subsidiary of Canadian Solar, Inc. and functions as Canadian Solar's U.S. project development arm. Recurrent Energy has more than 4 GW of solar projects in development in the U.S.

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 a provider of solar energy solutions, Canadian Solar has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 16 years, Canadian Solar has successfully delivered over 22 GW of premium quality modules to over 100 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publically listed on NASDAQ since 2006.

About DEPCOM Power

DEPCOM Power is a partner in utility-scale solar for: Project Development Support, Engineering, Procurement & Construction and Operations & Maintenance services for utilities, independent power producers and project development companies. DEPCOM Power leverages a highly experienced solar team, technology and agnostic top-tier solar modules, and cost effective balance of system components to provide optimum levels of agility, price and quality for utility-scale solar.

For more information, please visit: https://www.canadiansolar.com
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