Canadian Solar Inc. (the "Company", or "Canadian Solar"), one of the world's largest solar energy and battery storage companies, and VTRM, a leading renewable energy company in Brazil, announced today the sale of Canadian Solar's 635 MWp Jaíba V solar project to VTRM.

The Jaíba V Project, located in the Northeastern state of Minas Gerais, is in advanced stage of development and is expected to begin construction in 2022, and reach commercial operation in 2023.

Once operational, the project will be one of the largest solar projects in the country, covering approximately 3,706 acres of land (1,500 ha), and is estimated to generate clean electricity equivalent to the annual consumption of over 500,000 households. Approximately 40% of Jaíba V's installed capacity is already committed through long-term PPAs (power purchase agreements), and the remaining energy will be sold in the free market.