Canadian Solar confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission (SEC) relating to the proposed initial public offering of common equity of a YieldCo vehicle. The number of securities to be sold and the price range for the proposed offering have not yet been determined. The initial public offering is subject to the SEC review process, market and other conditions.

This news release is being made pursuant to and in accordance with Rule 135 under the Securities Act of 1933 and does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

Canadian Solar announced to launch the yieldco vehicle in this March after it acquired Recurrent Energy and its pipeline from Sharp in late 2014. The solar project pipeline under the yieldco vehicle would ultimately reach 8.5GW, while the current pipeline is about 1GW. (related post)