Canadian Solar Stock Price, News & Analysis

Canadian Solar Inc. has officially transitioned its corporate jurisdiction from British Columbia to Ontario, effective July 29, 2022. This decision was approved via a special resolution by shareholders during the annual meeting on June 22, 2022. Notably, no action is needed from existing shareholders regarding this change. Established in 2001, Canadian Solar is one of the leading global solar technology companies, having delivered around 71 GW of solar photovoltaic modules worldwide and developed over 6.6 GW of solar projects.

Canadian Solar Inc (NASDAQ: CSIQ) announced a conference call set for August 18, 2022, at 8:00 a.m. EDT to discuss its Q2 2022 results and outlook. Interested parties can join via various dial-in options or through a live webcast available on the investor relations section of their website. The company has delivered approximately 71 GW of solar modules globally and currently has 800 MW operating projects with an additional 5.3 GW in construction. A replay of the call will be available post-event until September 1, 2022.

Canadian Solar (NASDAQ: CSIQ) has finalized the sale of two solar and battery energy storage projects in the UK to Gresham House. These projects include a combined solar and battery project in Durham (50 MWp solar, 38 MW storage) and a standalone solar project in Warwickshire (28 MWp). Both projects are fully permitted and ready for construction, showcasing Canadian Solar's strategic focus on collocated renewable projects. This transaction aligns with Canadian Solar's UK growth strategy, highlighting their expertise in energy storage development.

Canadian Solar (NASDAQ: CSIQ) announced the successful sale of two solar farms, Suntop and Gunnedah, in New South Wales, Australia, totaling 345 MWp, to CalEnergy Resources. These projects will generate over 700,000 MWh of green electricity annually, equivalent to avoiding more than 450,000 tonnes of CO2 emissions. The companies also established a multi-year development services agreement to further develop Canadian Solar's renewable energy projects in Australia. With these initiatives, Canadian Solar reinforces its commitment to decarbonization and supports corporate sustainability efforts.

On June 22, 2022, Canadian Solar Inc. (NASDAQ: CSIQ) held its Annual and Special Meeting of Shareholders, where all proposals were approved. Key approvals included: the election of a new board of directors, re-appointment of Deloitte Touche Tohmatsu as auditors, and a resolution enabling the company's relocation from British Columbia to Ontario. Founded in 2001, Canadian Solar is a global leader in solar technology, with a significant operational pipeline comprising 800 MWp of projects, 5.3 GWp in backlog, and 18.5 GWp in early to mid-stage development.

Recurrent Energy, a subsidiary of Canadian Solar (NASDAQ: CSIQ), has acquired two energy storage projects from Black Mountain Energy Storage, each capable of storing up to 200 MWh of energy. Located in Texas's ERCOT market, the projects are set to reach notice to proceed in 2023 and commence operations by Q2 2024. This acquisition enhances Recurrent's development pipeline, bringing their total energy storage projects to 2.9 GWh operational or under construction, with an additional 15.5 GWh in early to mid-stage development, aiming to improve grid reliability.

Canadian Solar (NASDAQ: CSIQ) has secured 136 million Brazilian reais (approximately US$28 million) in non-recourse project financing from Banco do Nordeste do Brasil for its 79 MWp Lavras II solar power project in Brazil. The project is set to start commercial operation in Q2 2022 and will utilize Canadian Solar's BiHiKu modules. This financing highlights Canadian Solar's commitment to the Brazilian market, where it has a substantial backlog of over 2 GWp in projects secured with power purchase agreements.

Canadian Solar Inc. (NASDAQ: CSIQ) announced a settlement with Solaria to resolve patent litigation after a favorable claim construction ruling by a U.S. court. Solaria will terminate its Section 337 investigation and dismiss infringement claims against Canadian Solar. The settlement requires no payment or admission of liability from either party. Canadian Solar had already discontinued the disputed shingled solar module technology. The company's latest all-black modules promise improved efficiency and power output, reinforcing its commitment to innovation in renewable energy.