Canadian Solar Inc. announced that the Jiangsu Suzhou Intermediate Court dismissed the request by LDK Solar Co. Ltd. to enforce the arbitration award decision by the former Shanghai branch of the China International Economic and Trade Arbitration Commission in the amount of RMB 248.9 million (approximately $40.1 million). This arbitration award relates to wafer supply contracts entered into between Canadian Solar and LDK in October of 2007 and June of 2008, and subsequently terminated. The total amount of the award includes the initial deposit of RMB 60.0 million (approximately $9.7 million), but excludes approximately RMB 2.0 million to cover arbitration expenses.

Canadian Solar Inc., Duke Energy Renewables, Integrys Energy Services and Community Energy Solar announced the completion of two 1-megawatt (MW) AC solar power projects in Sterling, Massachusetts. The community-oriented Sterling projects are co-owned by Canadian Solar and INDU Solar Holdings - a joint venture between subsidiaries of Duke Energy and of Integrys Energy Services. The ground-mounted installations were developed by Community Energy Solar and constructed by groSolar using 9,968 CS6P 240W Canadian Solar modules. They will supply enough energy to power about 400 homes annually. Sterling Municipal Light Department (SMLD) is purchasing the power generated from the projects under 20-year agreements for use within the Town of Sterling.

Canadian Solar Inc. provided earnings guidance for the first quarter of 2013. For the quarter, the company expects solar module shipments to be in the range of approximately 335 MW to 345 MW, which exceeds the previous guidance of 290-310 MW and compares to shipments of 404 MW in the fourth quarter of 2012 and 343 MW in the first quarter of 2012. The Company now expects its gross margin for the first quarter of 2013 to range from 9% to 10% compared to the previous guidance of 8-10%, and compared to 5% in the fourth quarter of 2012 and 7.7% in the first quarter of 2012.