Canadian Solar Stock Price, News & Analysis

Canadian Solar Inc. (CSIQ) announced the registration of a €100 million medium-term note program through its subsidiary, Canadian Solar EMEA, in Spain, on February 24, 2023. This program, which may qualify as 'green bonds', is aimed at financing the development and acquisition of solar PV and battery storage projects. The notes will be sold to non-U.S. persons and must meet specific qualifications in the EU. This capital-raising framework positions Canadian Solar to rapidly access funds and enhance its sustainable investment initiatives, contributing to global renewable energy goals.

Canadian Solar Inc. (CSIQ) preannounced its preliminary results for Q4 2022 and first quarter 2023 outlook. Q4 module shipments are expected to reach 6.4 GW, surpassing guidance of 6.0-6.3 GW, with revenues around $1.97 billion, above the $1.8-$1.9 billion range. Gross margin is projected at 17.7%. For Q1 2023, shipments are estimated between 5.9 GW and 6.2 GW, with revenues of $1.6-$1.8 billion and gross margins of 18-20%. The company maintains a full-year shipment guidance of 30-35 GW. A full earnings call is scheduled for March 21, 2023.

Canadian Solar (NASDAQ: CSIQ) announced that CSI Energy Storage will supply 487 MWh of its proprietary SolBank energy storage products to Aypa Power, a Blackstone portfolio company. This project aims to enhance energy storage capabilities in Southern California and is expected to be operational by mid-2024. Since its inception in 2018, Aypa Power has developed over 15 GW of energy storage projects across North America. CSI Energy Storage, which has deployed 2.3 GWh of solutions globally, aims to expand its battery manufacturing capacity from 2.5 GWh to 10 GWh by the end of 2023, supporting its growth in renewable energy markets.

Canadian Solar Inc. (NASDAQ: CSIQ) has announced a conference call scheduled for March 21, 2023, at 8:00 a.m. EDT to discuss its fourth quarter and full year 2022 results and business outlook. Investors can join via a toll-free number or through a live webcast on the company's investor relations page. A replay of the call will be available afterward until April 4, 2023. Canadian Solar, a leading manufacturer in solar technology, has delivered around 82 GW of solar modules globally and currently has approximately 500 MW of projects operational and 6 GW under construction.

On February 15, 2023, Canadian Solar announced the launch of its EP Cube energy storage solution in Europe, following its successful introduction in North America in September 2022. The official presentation will occur at the Genera exhibition in Madrid, Spain, from February 21-23, 2023. EP Cube enables efficient self-consumption of solar energy, optimizing savings for users amid rising electricity costs.

With scalable capacities and compatibility with various PV systems, EP Cube is designed for both indoor and outdoor installation. Its user-friendly app allows real-time energy management. CEO Dr. Shawn Qu emphasized its role in the energy transition and cost reduction.

On January 31, 2023, Canadian Solar (NASDAQ: CSIQ) announced a strategic agreement with Gardant Investor SGR to sell 30% of preferred units in its first Italian alternative investment fund, CSFS Fund I. This fund, focusing on renewable energy, includes seven solar power projects with a total capacity of 124.2 MWp across Italy. Gardant will also handle 30% of the projects' construction costs. Canadian Solar aims to sell another 30% preferred units to a different investor while retaining 40%. This collaboration underscores their transition from a project development model to a global independent power producer.

Canadian Solar (NASDAQ: CSIQ) announced on January 30, 2023, that its subsidiary, CSI Solar, has signed a multi-year investment agreement with the Yangzhou City municipal government in Jiangsu Province, China. This agreement aims to enhance high-efficiency solar wafer, cell, module, and battery system manufacturing capacity in Yangzhou's clean energy industrial park. The capacity expansion will occur in three phases, starting with 14 GW of wafer and cell capacity in the second half of 2023. The company anticipates ending 2023 with 20 GW of ingot, 35 GW of wafer, and 50 GW of cell and module capacity.

Canadian Solar (NASDAQ: CSIQ) has announced a significant agreement with Pulse Clean Energy to supply up to 550 MWh of its proprietary SolBank energy storage products for various projects in the UK. This deal expands their ongoing relationship, building on a previous engagement for 100 MWh of services. The latest contract highlights Pulse's commitment to enhancing energy security in the UK, aimed at achieving over 1 GW of installed capacity soon. Canadian Solar's CSI Energy Storage has deployed over 2.4 GWh of solutions globally and aims for a 25 GWh total pipeline by year-end.

Canadian Solar announced its majority-owned subsidiary, CSI Solar Co., Ltd., will commence mass production of high-efficiency N-type TOPCon solar modules in Q1 2023. These modules will achieve a power output of up to 690W and a cell conversion efficiency of around 25.0%, surpassing mainstream products by 1.5%. The company expects TOPCon modules to make up about 30% of total shipments for 2023, enhancing product leadership and customer ROI with improved performance and reduced degradation rates. A 30-year warranty on monofacial modules further distinguishes Canadian Solar's offering.