Canadian Solar Signs Annual Solar Cell Supply Contract with Gintech Energy Corporation for About USD 60 Million in 2008

Canadian Solar Signs Annual Solar Cell Supply Contract with Gintech Energy Corporation for About USD 60 Million in 2008

November 26, 2007

    JIANGSU, China, Nov. 26 /Xinhua-PRNewswire/ -- Canadian
Solar Inc. ("the Company", or "CSI")
(Nasdaq: CSIQ) today announced it signed an annual solar
cell supply contract with long-term supplier Gintech Energy
Corporation of Taiwan. Total shipments to CSI under the
contract amount are between 17MW to 22MW with fixed pricing
and delivery schedules in 2008. The shipment will start in
January 2008.

    Scott Kuo, Chairman of Gintech commented, "Gintech
is committed to delivering solar cells of the highest
quality at competitive prices to serve our clients. Our
goal is to become the best and specialized solar cell
producer with solid and diversified customer relationship.
Our continued relationship with CSI, one of the leading
solar manufacturing companies, brings us closer to this
goal."

    Dr. Shawn Qu, CEO of CSI, said, "We were able to
secure this new contract on competitive terms due to our
strong relationship with Gintech, which has been a valued
partner of CSI since 2004. At fixed pricing with scheduled
delivery times, the contract provides added visibility into
our supply channel to support our 2008 business plan. This
is another example of our ability to achieve win-win
relationships with companies across the solar value chain.
The continuation of our collaboration with Gintech is in
line with our long-term supply strategy, which includes
direct purchasing from a selected number of long-term
strategic cell suppliers in addition to our internal solar
cell production."

    About Gintech Energy Corporation 

    Gintech is a solar cell manufacturer based in Taiwan.
Gintech's state-of- the-art equipment, facilities and
cost-effective production line focus only on solar cell
manufacturing. Gintech was founded in 2005 and is supported
by several top executives from the petroleum, petrochemical,
semiconductor and electronics industries in Taiwan with
insight into the global trends of renewable energy.

    About Canadian Solar Inc. (Nasdaq: CSIQ)

    Founded in 2001, Canadian Solar Inc. (CSI) is a
vertically integrated manufacturer of solar cell, solar
module and customer-designed solar application products
serving worldwide customers. CSI is incorporated in Canada
and conducts all of its manufacturing operations in China.
Backed by years of experience and knowledge in the solar
power market and the silicon industry, CSI has become a
major global provider of solar power products for a wide
range of applications. For more information, please visit
www.csisolar.com.

    Safe Harbor/Forward-Looking Statements

    Certain statements in this press release including
statements regarding expected future financial and industry
growth are forward-looking statements that involve a number
of risks and uncertainties that could cause actual results
to differ materially. These statements are made under the
"Safe Harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. In some cases,
you can identify forward-looking statements by such terms
as "believes," "expects,"
"anticipates," "intends,"
"estimates," the negative of these terms, or
other comparable terminology. Factors that could cause
actual results to differ include general business and
economic conditions and the state of the solar industry;
governmental support for the deployment of solar power;
future shortage or availability of the supply of
high-purity silicon; demand for end-use products by
consumers and inventory levels of such products in the
supply chain; changes in demand from significant customers,
including customers of our silicon materials sales; changes
in demand from major markets such as Germany; changes in
customer order patterns; changes in product mix; capacity
utilization; level of competition; pricing pressure and
declines in average selling price; delays in new product
introduction; continued success in technological
innovations and delivery of products with the features
customers demand; shortage in supply of materials or
capacity requirements; availability of financing; exchange
rate fluctuations; litigation and other risks as described
in the Company's SEC filings, including its annual report
on Form 20-F originally filed on May 29, 2007. Although the
Company believes that the expectations reflected in the
forward looking statements are reasonable, it cannot
guarantee future results, level of activity, performance,
or achievements. You should not place undue reliance on
these forward-looking statements. All information provided
in this press release is as of today's date, unless
otherwise stated, and Canadian Solar undertakes no duty to
update such information, except as required under
applicable law.


    For more information, please contact:

     For Canadian Solar Inc.
     In Jiangsu, P.R. China
     Bing Zhu, Chief Financial Officer
     Canadian Solar Inc.
     Phone: [phone]
     Email: [e-mail]

     For Canadian Solar Inc.
     In the U.S.
     David Pasquale
     The Ruth Group
     Phone: [phone]
     Email: [e-mail]

     For Gintech Energy Corporation
     Sales
     Gintech Energy Corporation
     Phone: [phone]
     Email: [e-mail]