<SEC-DOCUMENT>0001104659-24-005738.txt : 20240123
<SEC-HEADER>0001104659-24-005738.hdr.sgml : 20240123
<ACCEPTANCE-DATETIME>20240123070726
ACCESSION NUMBER:		0001104659-24-005738
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20240123
FILED AS OF DATE:		20240123
DATE AS OF CHANGE:		20240123

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Canadian Solar Inc.
		CENTRAL INDEX KEY:			0001375877
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33107
		FILM NUMBER:		24550474

	BUSINESS ADDRESS:	
		STREET 1:		545 SPEEDVALE AVENUE
		STREET 2:		WEST GUELPH
		CITY:			ONTARIO
		STATE:			A6
		ZIP:			N1K 1E6
		BUSINESS PHONE:		(86-512) 6690-8088

	MAIL ADDRESS:	
		STREET 1:		NO. 199 LUSHAN ROAD, SUZHOU NEW DISTRICT
		STREET 2:		SUZHOU
		CITY:			JIANGSU
		STATE:			F4
		ZIP:			215129
</SEC-HEADER>
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<DESCRIPTION>FORM 6-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt"><B>FORM&nbsp;6-K<BR>
</B></FONT><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER<BR>
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER<BR>
THE SECURITIES EXCHANGE ACT OF 1934</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the month of January&nbsp;2024</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt"><B>CANADIAN
SOLAR INC.<BR>
</B></FONT><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>545 Speedvale Avenue West, Guelph,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Ontario, Canada N1K 1E6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address of principal executive office)</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will file annual
reports under cover of Form&nbsp;20-F or Form&nbsp;40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;20-F
<FONT STYLE="font-family: Wingdings">&#120;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Form&nbsp;40-F &#8239;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CANADIAN SOLAR INC.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form&nbsp;6-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONTENTS</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; background-color: white"><B><A NAME="a_002"></A>Recurrent
Energy Announces $500 Million Capital Commitment from BlackRock to Grow Its Global Renewable Energy Platform</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Recurrent Energy</FONT>,
a subsidiary of Canadian Solar Inc. (&ldquo;Canadian Solar&rdquo;) (NASDAQ: CSIQ) and a global developer and owner of solar and energy
storage assets, announced today that Recurrent Energy B.V. has secured a $500 million preferred equity investment commitment, convertible
into common equity, from BlackRock through a fund managed by its Climate Infrastructure business (&ldquo;BlackRock&rdquo;). The $500 million
investment will represent 20% of the outstanding fully diluted shares of Recurrent Energy on an as-converted basis. Canadian Solar will
continue to own the remaining majority shares of Recurrent Energy after the closing of the investment.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">The investment
will provide Recurrent Energy with additional capital to grow its high value project development pipeline while executing its strategy
to transition from a pure developer to a developer plus long-term owner and operator in select markets including the U.S. and Europe.
This transition is expected to create a more diversified portfolio and provide more stable long-term revenue in low-risk currencies and
enable Recurrent Energy to create and retain greater value in its own project development pipeline.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Recurrent Energy is one of the world&rsquo;s largest
and most geographically diversified utility-scale solar and energy storage project development platforms, with a strong and established
track record of responsibly originating, developing, financing, and building around 9 GWp of solar and 3 GWh of battery storage power
plants across six continents since 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">As of September 30, 2023, Recurrent Energy had a global development
pipeline of 26 GW in solar and 55 GWh in storage, of which 13 GW and 12 GWh respectively are projects with interconnections. Recurrent
Energy expects to have 4 GW of solar and 2 GWh of storage in operation in the U.S. and Europe by 2026. The perimeter of the transaction
includes the U.S., Canada, Spain, Italy, the U.K., France, the Netherlands, Germany, South Africa, Brazil, Chile, Colombia, Australia,
South Korea and Taiwan; and excludes Canadian Solar&rsquo;s project development business in Japan and China, and certain assets in Latin
America and Taiwan. Closing of the transaction is subject to regulatory approvals and certain terms and conditions in accordance with
the transaction agreements.</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B><U>Dr.&nbsp;Shawn
Qu</U>, Chairman and CEO, Canadian Solar</B>, said, &ldquo;We started our global energy development business in 2009 and have since strategically
grown Recurrent Energy as Canadian Solar&rsquo;s premier renewable energy platform, forging a new path in developing, financing and constructing
first-of-their kind solar and energy storage projects. We are now at an inflection point for renewable energy growth. The infusion of
capital from our partner BlackRock, who is also Canadian Solar&rsquo;s largest institutional investor, will provide the resources needed
to further scale the Recurrent Energy platform and meet record clean energy power demand across the world.&rdquo;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Ismael Guerrero,
CEO of Recurrent Energy</B>, added, &ldquo;We are delighted to have the support of BlackRock, one of the largest and most sophisticated
renewable energy investors in the world, as we scale Recurrent Energy in response to massive global demand for renewable energy and energy
storage solutions. This investment will support our growth and continued ambition to make a difference by leading the renewable energy
transition across the world. Our mission is to deliver clean, reliable and affordable power to the world, today and tomorrow, and this
milestone will help us continue to achieve this goal.&rdquo;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>David Giordano,
Global Head of Climate Infrastructure and Chief Investment Officer of Transition Capital, BlackRock</B>, said, &ldquo;We are excited
to partner on behalf of our clients with Recurrent Energy. We believe this partnership will help unlock the full potential of Recurrent
Energy&rsquo;s impressive renewable energy project development platform. Recurrent Energy is emblematic of our strategy of investing
in leading renewable power generation assets and transition-enabling infrastructure, and we are pleased to make this first investment
commitment from the fourth vintage of BlackRock&rsquo;s Climate Infrastructure fund franchise.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Solar energy is
the most affordable way to produce electricity in most places around the world. Between 2022 and 2027, global solar capacity is projected
to almost triple, becoming the largest source of power capacity in the world, according to the International Energy Agency. The growth
of renewable energy, especially in the U.S. and Europe, is also driving demand for energy storage which provides dispatchable and reliable
power to the grid. Wood Mackenzie projects global cumulative deployments of energy storage to exceed 1,000 GWh between now and 2030.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">BofA Securities,&nbsp;Inc.
and Banco Santander, S.A. acted as financial advisors to Canadian Solar.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">The $500 million
preferred equity investment, convertible to common equity, will bear a cumulative and compounding preferred dividend at a rate of 9%
per annum paid in-kind or cash (at Recurrent Energy&rsquo;s option), until the closing of a qualified exit event initiated by either
Recurrent Energy shareholder, which may commence after the five-year anniversary of the closing. The preferred equity investment carries
preferential rights at exit, and prior to exit, will provide holders of the preferred equity with certain customary governance rights. Closing of the transaction is expected in two tranches and is subject to regulatory approvals and certain terms and
conditions in accordance with the transaction agreements.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">###</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>About Recurrent Energy</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Recurrent Energy
is one of the world&rsquo;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 <U>www.recurrentenergy.com</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>About Canadian
Solar</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Canadian Solar
was founded in 2001 in Canada and is one of the world&rsquo;s largest solar technology and renewable energy companies. It is a leading
manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar
power and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 22 years,
Canadian Solar has successfully delivered over 110 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise,
since entering the project development business in 2009, Canadian Solar has developed, built, and connected around 9.3 GWp of solar power
projects and over 3 GWh of battery storage projects across the world. Currently, the Company has around 850 MWp of solar power projects
in operation, 8 GWp of projects under construction or in backlog (late-stage), and an additional 19 GWp of projects in the advanced and
early-stage pipeline. In addition, the Company has a total battery storage project development pipeline of approximately 55 GWh, including
approximately 5 GWh under construction or in backlog, and an additional 50 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 <U>LinkedIn</U> or visit <U>www.canadiansolar.com</U>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>About BlackRock Private Markets</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">BlackRock&rsquo;s
private markets platform serves investors seeking outperformance in infrastructure, private debt, private equity, real estate, and multi-alternatives
solutions. We strive to bring our investors the highest quality opportunities by drawing upon our global footprint, superior execution
capabilities, proprietary technology, and position as a preferred partner. As of December&nbsp;31, 2023, BlackRock manages US$327 billion
in liquid and illiquid alternative investments and commitments on behalf of clients worldwide.</FONT></P>

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</TR></TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Safe Harbor/Forward-Looking Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">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 &quot;Safe Harbor&quot; 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 &quot;believes,&quot; &quot;expects,&quot;
 &quot;anticipates,&quot; &quot;intends,&quot; &quot;estimates,&quot; 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 the Company's
filings with the Securities and Exchange Commission, including its annual report on Form&nbsp;20-F filed on April&nbsp;18, 2023. 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 undertakes no duty to update such information,
except as required under applicable law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_001"></A>SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: justify">&nbsp;CANADIAN SOLAR INC.</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: justify; width: 5%">By:</TD>
                                        <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">/s/ Shawn (Xiaohua) Qu</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Name:</TD>
                                        <TD STYLE="text-align: justify"> Shawn (Xiaohua) Qu</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Title:</TD>
                                        <TD STYLE="text-align: justify">Chairman and Chief</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
                                        <TD STYLE="text-align: justify">Executive Officer</TD></TR>
     </TABLE>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: January&nbsp;23, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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