Ontario, Canada, March 06, 2020

Canadian Solar Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced its technology team set a world record of 23.81% conversion efficiency for n-type large area multi-crystalline silicon solar cell. The record-setting N-type P5 cell conversion efficiency was recently tested and certified by Germany's Institute für Solarenergieforschung GmbH (ISFH). This is the third time within a span of nine months that the company has set multi-crystalline solar cell conversion efficiency world record (see 22.8% and 22.28% records for p-type multi-crystalline cells).

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar said, "I am very pleased to announce that we broke the world record yet again. This is a milestone for our revolutionary n-type P5 technology development. It proves that both our p-type and n-type multi-crystalline silicon technology can achieve efficiencies as good as mono. We remain focused on expanding our technology pipeline to provide our customers with the most LCOE-competitive products."

Canadian Solar has been developing and is commercially launching its P5 cell technology and solar module products. In September 2019, Canadian Solar set a world record of 22.8% conversion efficiency for p-type P5 cell. The 23.81% record efficiency multi-crystalline cell was fabricated utilizing 157mmx157mm (area 246.44cm2) n-type P5 silicon wafer and PASCon (Passivated Contact) technology.

Canadian Solar is a technology leader in the solar industry and one of the highest ranking global solar manufacturers in terms of patent applications and patent grants. The Company has over 1500 patents granted, covering China, North American, European and Asia-Pacific regions. All of the Company's cell capacity was upgraded to PERC by August 2019. On the module product side, Canadian Solar has pioneered the GW-scale introduction of half-cut cell modules (Ku-series), bifacial modules (BiKu), multi-bus bar (MBB), 166mm wafers (HiKu and BiHiKu).

About Canadian Solar Inc.

Canadian Solar was founded in 2001 in Canada and is one of the world's largest and foremost solar power companies. It is a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions and has a geographically diversified pipeline of utility-scale power projects in various stages of development. Over the past 19 years, Canadian Solar has successfully delivered over 38 GW of premium quality modules to customers in over 150 countries around the world. Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

(Image by David Mark from Pixabay)

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