Canadian Solar and Flow Power to Install Innovative Anti-Hail Solar Panels

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Canadian Solar's new anti-hail technology is set to be installed at a new South Australian solar BESS energy project by Flow Power, enhancing the resilience of solar energy in Australia's harsh climate.

, /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that its subsidiary in Australia and Flow Power, one of Australia's fastest growing energy retailers, have teamed up to deliver the first Flow Power solar project featuring Canadian Solar's anti-hail modules. This will also mark the first deployment of Canadian Solar's innovative anti-hail technology in Australia. Set to be delivered in 2025, the South Australian solar and battery energy storage system (BESS) in Coonawarra will be a significant milestone in Australia's renewable energy journey, offering increased protection for solar panels in extreme weather conditions.

Developed through extensive testing, Canadian Solar's anti-hail technology helps safeguard solar panels from severe weather, including hailstorms. This innovation is part of Canadian Solar's commitment to providing durable, high-performance solutions for renewable energy projects in some of the world's most challenging environments.

Based in the Coonawarra wine region, Flow Power's first project to utilise the technology will be a solar farm paired with a DC-coupled BESS. This project will be the first of many sites where Canadian Solar and Flow Power collaborate to install the Company's anti-hail technology across the country.

"We're excited to be using Canadian Solar's TOPCon anti-hail panels in our upcoming energy projects," said Tom Harrison, Flow Power's General Manager Energy Projects. "At Flow Power, we are committed to innovation, and we always work to make each new project better than the last. That includes building smarter, more resilient energy solutions, and the Coonawarra Energy Project is a testament to that mission. By integrating anti-hail technology into our solar farms, we are not only enhancing the durability of our assets, but also ensuring greater reliability for our customers, even in extreme weather conditions."

"We are proud to partner with Flow Power to bring our advanced anti-hail solar panels to Australian energy projects," said Dr. Shawn Qu, Chairman and CEO of Canadian Solar. "This first project highlights our commitment to providing innovative solutions that enhance the durability and performance of solar energy systems in Australia."

The first phase of the Coonawarra Energy Project will soon begin, with the solar modules set to be installed in the coming months.

About Canadian Solar Inc.

Canadian Solar is one of the world's largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 24 years, Canadian Solar has successfully delivered nearly 150 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 10 GWh of battery energy storage solutions to global markets as of December 31, 2024, boasting a US$3.2 billion contracted backlog as of December 31, 2024. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 11.5 GWp of solar power projects and 4.5 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 25 GWp of solar and 75 GWh of battery energy storage capacity in various stages of development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

About Flow Power

Flow Power is an electricity, technology and engineering company that has been reshaping energy for Australia since 2008. Flow Power's renewable energy portfolio encompasses wind, solar and storage - while its innovative approach uncovers new and better ways to deliver reliable, renewable energy that brings costs down and puts the power back in customers' hands.

One of Australia's fastest-growing energy retailers, Flow Power serves some of our best-loved organisations including Asahi Beverages, Sydney Opera House, Snack Brands, Westpac, City of Sydney, The University of Melbourne, RM Williams, Newcastle Airport and Harris Farm Markets.

A long-term industry leader in the renewable energy transition, Flow Power has recently launched its innovative residential electricity plan, Flow Home, which empowers Australians to make their homes a force for good in the renewable energy transition.

Flow Power: creating Australia's renewable energy future, together.

For more information: www.flowpower.com.au

Safe Harbor/Forward-Looking Statements 

Certain statements in this press release 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, regulatory and economic conditions and the state of the solar power and battery energy storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to global pandemics; supply chain disruptions; governmental support for the deployment of solar power and battery energy storage; future available supplies of silicon, solar wafers and lithium cells; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as China, the U.S., Europe, Brazil and Japan; changes in effective tax rates; changes in customer order patterns; changes in product mix; changes in corporate responsibility, especially environmental, social and governance ("ESG") requirements; capacity utilization; level of competition; pricing pressure and declines in or failure to timely adjust average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; the pipeline of projects and timelines related to them; the ability of the parties to optimize value of that pipeline; continued success in technological innovations and delivery of products with the features that customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange and inflation rate fluctuations; litigation and other risks as described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 26, 2024. 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. Investors 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 and Flow Power undertake no duty to update such information, except as required under applicable law.

CANADIAN SOLAR INC. INVESTOR RELATIONS CONTACT

Wina Huang

Investor Relations Canadian Solar Inc.

[email protected]

CANADIAN SOLAR INC. MEDIA CONTACT

Minnie Xu

[email protected]

FLOW POWER MEDIA CONTACT

Emma Malueg, Account Manager - Sustainability, Horizon Communication Group +61 0450 276 840

[email protected]