Canadian Solar Announces Closing of Follow-On Offering of Common Shares

JIANGSU, China, July 23 /Xinhua-PRNewswire/ -- Canadian Solar Inc.
(Nasdaq: CSIQ) ("Canadian Solar" or the "Company") today announced the closing
of its follow-on public offering of 3,500,000 common shares at a public
offering price of $34.00 per share (the "Offering"). The net proceeds to
Canadian Solar from the sale of the 3,500,000 common shares are approximately
$112.7 million after deducting underwriting discounts and commissions. The
Company has granted the underwriters a 30-day option to purchase up to an
additional 525,000 shares, solely to cover over allotments.
Deutsche Bank Securities Inc. and Piper Jaffray & Co. acted as joint
bookrunners for the Offering.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Certain statements in this press release may be forward-looking
statements,
as defined in the Private Securities Litigation Reform Act of 1995.
Generally,
the words "believe," "expect," "intend," "anticipate," "will," "may" and
similar expressions identify forward-looking statements. These statements are
only predictions. The Company makes these forward-looking statements based on
information available on the date hereof, and it has no obligation (and
expressly disclaims any such obligation) to update or alter any such forward-
looking statements, whether as a result of new information, future events, or
otherwise. See the Company's Form 20-F for the period ended December 31, 2007
for a further discussion of these and other risks and uncertainties applicable
to the Company's business.
For more information, please contact:

In Jiangsu, P.R. China
Alex Taylor, IR Director
Canadian Solar Inc.
Tel: +86-512-6690-8088
Email: ir@csisolar.com

In the U.S.
John Robertson
The Ruth Group
Tel: +1-646-536-7024
Email: jrobertson@theruthgroup.com

SOURCE Canadian Solar Inc.

In Jiangsu, P.R. China - Alex Taylor, IR Director of Canadian Solar Inc.,
+86-512-6690-8088, or ir@csisolar.com; In the U.S. - John Robertson of The
Ruth Group, +1-646-536-7024, or jrobertson@theruthgroup.com