Canadian Solar Stock Price, News & Analysis

Canadian Solar (CSIQ) has secured a 52 MWp solar PV project, Caracoli, in Colombia's recent public auction held by the Ministry of Energy. This initiative involves a 15-year power purchase agreement in Colombian Pesos, set to deliver clean energy from 2023. The project is a key advancement, following the company's first battery storage project awarded in Colombia. Construction is anticipated to commence in Q2 2022, marking a significant step in Canadian Solar's expansion in Latin America, reinforcing its market leadership.

Canadian Solar Inc. (CSIQ) announced a conference call scheduled for November 18, 2021, at 8:00 a.m. EST to discuss its third quarter 2021 results and business outlook. The call can be accessed via multiple dial-in numbers or through a live webcast on Canadian Solar's investor relations website. A replay will be available for a week after the call. Founded in 2001, Canadian Solar is one of the largest solar technology firms, having delivered over 59 GW of solar modules globally and currently managing a robust project pipeline.

Canadian Solar (CSIQ) announced its subsidiary, CSI Solar, has secured a contract for a 350 MW / 1400 MWh battery storage project in Riverside County, California. The project, owned primarily by Axium Infrastructure, will include a fully integrated battery storage system and long-term maintenance services. Construction is set to begin soon, with commercial operation expected by summer 2022. This initiative aims to enhance California's grid reliability and support its decarbonization goals while creating jobs. CSI Solar will also provide a 15-year service agreement ensuring performance and safety.

On Sept. 8, 2021, Canadian Solar, via its subsidiary Recurrent Energy, announced the sale of an 80% stake in its 350 MW / 1400 MWh Crimson storage project to Axium Infrastructure. This marks Canadian Solar's first stand-alone storage project, expected to begin construction in Q3 2021 and operational by summer 2022. The project includes contracts with Southern California Edison and Pacific Gas and Electric to enhance California's grid reliability. This partnership reinforces Canadian Solar's market leadership in battery storage solutions.

Canadian Solar (NASDAQ: CSIQ) announced long-term Operations & Maintenance (O&M) agreements for two solar PV and battery storage projects in Kings County, California, owned by Goldman Sachs. The agreements cover the 300 MWac Slate Project with a 140 MW / 561 MWh battery and the 100 MWac Mustang Project with a 75 MW / 300 MWh battery. With a global O&M portfolio nearing 4 GWp, Canadian Solar aims to scale its O&M business to 11 GWp by 2025, enhancing its share of stable income and solidifying its market leadership.

Canadian Solar (NASDAQ: CSIQ) reported strong Q2 2021 results, shipping 3.7 GW of solar modules, achieving record revenue of $1.43 billion, and a gross margin of 12.9%. Despite a net income drop to $11 million from $23 million in Q1, the company is optimistic about long-term growth, focusing on expanding its battery storage projects and solar module capacity. With a solid project pipeline of 22 GW and plans for an IPO of its subsidiary CSI Solar, Canadian Solar continues to position itself for future success in a challenging market.

Recurrent Energy, a subsidiary of Canadian Solar (NASDAQ: CSIQ), has signed a 15-year Resource Adequacy agreement with PG&E to provide 150 MW / 600 MWh of energy storage for the Crimson project, set to begin in summer 2022. This forms part of a larger 350 MW / 1,400 MWh project aimed at enhancing grid reliability amid California's climate crisis. Earlier this year, Southern California Edison also awarded a contract for phase 1 of the project. CEO Shawn Qu emphasized the importance of energy reliability during peak demands.

Duke Energy has achieved a milestone by surpassing 10,000 MW of renewable energy capacity with the initiation of the 144-MW Pflugerville Solar project in Texas. This project, part of a broader 200-site renewable portfolio across 22 states, is expected to power approximately 27,000 homes and creates jobs while supporting local economies. Duke Energy aims for 16 GW of renewable capacity by 2025 and 47 GW by 2050, aligning with its climate goals of a 50% carbon reduction by 2030 and net-zero emissions by 2050.