Recurrent Energy granted Development Consent Order for its 350MWp Mallard Pass Solar Farm in UK

GUELPH, ON, July 16, 2024 -Recurrent Energy, a subsidiary of Canadian Solar Inc. ("Canadian Solar") (NASDAQ: CSIQ) and a global developer, owner, and operator of solar and energy storage assets, announced today that it has been granted, by the Secretary of State for the Department for Energy Security and Net Zero in the UK, a Development Consent Order (DCO) for the 350MWp Mallard Pass Solar Farm. This project adds to Recurrent Energy's pipeline in the EMEA region where the company currently has more than 10.3 GW of Solar PV and 32 GW/h of BESS projects under development.

Mallard Pass Solar Farm, co-developed by Recurrent Energy and Windel Energy, will be located on land either side of the East Coast Main Line to the north of Stamford, partly situated in South Kesteven, Lincolnshire, and partly in Rutland. The site is next to the National Grid Ryhall 400 kilovolts (kV) Substation, where the solar farm will connect to the national grid to provide clean, renewable energy.

Mallard Pass is expected to provide enough clean energy to power the equivalent of 92,000 british homes.

In line with Recurrent Energy's and Windel Energy's commitment to ESG principles (Environmental, Social and Governance) principles, in addition to safe,low-cost, decarbonised and renewable energy generation, Mallard Pass will provide a 72% net biodiversity gain for local species habitats, improving green infrastructure connectivity through the creation of green corridors, as well as enhancing and creating recreational trails.

Harry Wilder, Head of Recurrent Energy BD UK and Director of Mallard Pass Solar Farm Limited, said: "Mallard Pass is a groundbreaking project for Recurrent Energy and our business in the UK. It is the right project in the right place, a fact proven by the recommendation for approval by the Planning Inspectorate and the granting of consent by the Secretary of State. This is a ringing endorsement of the quality of the project and the way Recurrent, our development partner Windel Energy and the expert planning consortium has designed and consulted on the Project. The process of getting here has not been a short one and for us started back in 2021, it has been for me incredibly rewarding to have worked alongside such dedicated colleagues and partners as we have progressed the project and engaged with local and national stakeholders to improve and finalize our proposals, which has enabled us to get to where we are today."

The development of Mallard Pass Solar Farm started in 2021 and the DCO application was submitted to the Planning Inspectorate (PINS) on 24 November 2022, and accepted for Examination by PINS, acting on behalf of the Secretary of State for Energy Security and Net Zero (DESNZ), on 21 December 2022. The Examination began on 16 May 2023, and came to an end on 16 November 2023. The Planning Inspectorate then made its recommendation that the project be granted development consent to the Secretary of State on Friday 16 February 2024.

Following public consultation and examination the Secretary of State for the Department for Energy Security and Net Zero, Ed Miliband, granted development consent for Mallard Pass Solar Farm on 12 July 2024, marking a significant milestone in the UK's journey towards building a more robust and reliable renewable energy supply.

Mallard Pass Solar Farm will provide benefits both nationally and locally. The project will help the UK by increasing the supply of reliable, secure and low-carbon energy, while also offering environmental mitigation measures and enhancements to local communities and biodiversity. Projects like Mallard Pass will be crucial if we are to achieve our Net Zero goals and avoid the destructive nature of climate change.

About Recurrent Energy

Recurrent Energy is one of the world's largest and most geographically diversified utility-scale solar and energy storage project development, ownership and operations platforms, with an industry-leading team of in-house energy experts. Recurrent Energy is a subsidiary of Canadian Solar Inc. Additional details are available at www.recurrentenergy.com

About Canadian Solar

Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery energy storage solutions, and developer of utility-scale solar power and battery energy storage projects with a geographically diversified pipeline in various stages of development. Over the past 23 years, Canadian Solar has successfully delivered over 125 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built, and connected over 10 GWp of solar power projects and 3.3 GWh of battery energy storage projects across the world. Currently, the Company has over 1.2 GWp of solar power projects in operation, 6.5 GWp of projects under construction or in backlog (late-stage), and an additional 19.8 GWp of projects in advanced and early-stage pipeline. In addition, the Company has 600 MWh of battery energy storage projects in operation and a total battery energy storage project development pipeline of around 56 GWh, including approximately 4.3 GWh under construction or in backlog, and an additional 51.6 GWh at advanced and early-stage 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

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 and battery storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to the COVID-19 pandemic; supply chain disruptions; governmental support for the deployment of solar power; future available supplies 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; changes in demand from major markets, such as Japan, the U.S., China, Brazil and Europe; 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; 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 Canadian Solar's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 26, 2024. Although Canadian Solar and Recurrent Energy believe 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 Recurrent Energy 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]

Recurrent Energy Media Inquiries

Inés Arrimadas
Recurrent Energy
[email protected]

Public link

Please use the above public link if you want to share this noodl on another website.