Canadian Solar Rebrands as Recurrent Energy

GUELPH, ON, April 10, 2023 — Canadian Solar Inc. (the “Company” or “Canadian Solar”) (NASDAQ: CSIQ) today announces the rebranding of its wholly owned Global Energy subsidiary as Recurrent Energy. Recurrent Energy, previously the Company’s North American utility-scale solar and energy storage project developer, will now encompass all its global development and services businesses.

As a global development and services business, Recurrent Energy is one of the world’s largest and most geographically diversified utility-scale solar and energy storage project development platforms, with a strong track record of originating, developing, financing, and building nearly 9 GWp of solar and 3 GWh of battery storage power plants across six continents. Recurrent Energy has established a leadership position in both solar and battery storage project development, with a total pipeline of 25 GWp in solar and 47 GWh in battery storage, of which 14 GW and 12 GWh respectively already have interconnections (as of January 31, 2023). In addition, Recurrent Energy’s services business had 6 GW of projects under operations and maintenance contracts, either operational or contracted projects.

Dr. Shawn Qu, Chairman and CEO, Canadian Solar, commented, “Recurrent Energy has a strong brand and track record in clean energy project development and execution, having brought online some of the world’s first and largest solar, solar plus storage and standalone energy storage projects. As Canadian Solar continues to make a difference by supporting the global transition towards a more reliable, lower-carbon grid, we are pleased to streamline our development and operations and maintenance services under the Recurrent Energy umbrella. Recurrent Energy is now unified in its global mission and growth.”