Welcome to our dedicated page for Canadian Solar news (Ticker: CSIQ), a resource for investors and traders seeking the latest updates and insights on Canadian Solar stock.
Canadian Solar Inc. (CSIQ) delivers solar energy solutions and battery storage systems across residential, commercial, and utility markets worldwide. This news hub provides investors and industry stakeholders with essential updates on the company's operational milestones, financial performance, and technological advancements.
Access official press releases covering quarterly earnings, new product launches, and strategic partnerships alongside analysis of CSIQ's role in renewable energy markets. Our curated collection enables users to track manufacturing expansions, project developments through the Recurrent Energy division, and emerging trends in photovoltaic technology.
Key updates include announcements about utility-scale solar installations, battery storage innovations through the e-STORAGE platform, and sustainability initiatives. Bookmark this page to stay informed about Canadian Solar's global operations, including manufacturing capacity adjustments and long-term power purchase agreements shaping the clean energy transition.
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.
Canadian Solar (NASDAQ: CSIQ) has secured a BRL 500 million (approximately US$100 million) financing facility from Brazilian banks BTG Pactual and Itaú BBA. This funding will support the development and construction of solar projects in Brazil, where Canadian Solar holds a leading market position. The financing will cover up to 70% of equity contributions for selected projects. With nearly 3 GWp of solar initiatives developed in Brazil, the company aims to further enhance its project portfolio while supporting local renewable energy goals.
Canadian Solar Inc. (NASDAQ: CSIQ) announced a conference call for August 12, 2021, at 8:00 a.m. EDT to discuss its Q2 2021 results and future business outlook. The call can be accessed via several dial-in numbers or through a live webcast on the company's website. A replay will be available after the call until August 20, 2021. Established in 2001, Canadian Solar is a leading solar technology company, delivering over 55 GW of solar modules globally and currently having 15 GW of projects in pipeline.
On July 21, 2021, Canadian Solar (NASDAQ: CSIQ) announced the completion of the sale of its Maplewood 1 and Maplewood 2 solar projects, with a combined capacity of 328 MWp (or 250 MWac), to a leading U.S. annuity and life insurance company. The projects, located in Pecos County, Texas, are under construction and expected to begin commercial operations by Q3 2021. Notably, Anheuser-Busch will purchase 222 MWac under a 15-year power purchase agreement, advancing their renewable electricity goals.
Canadian Solar (NASDAQ: CSIQ) signed a 10-year power purchase agreement (PPA) with Centrica Energy Trading for two solar projects totaling 12 MWp in Italy. The projects, located in Trapani and Enna, are set to begin construction by the end of 2021 and will produce approximately 23 GWh of electricity annually, enough to power around 9,000 homes. This partnership is a part of Canadian Solar's broader strategy, contributing to a 1.3 GWp portfolio of subsidy-free solar assets in Italy, showcasing the company’s commitment to renewable energy growth.
Canadian Solar (NASDAQ: CSIQ) has won a 45 MW / 45 MWh utility-scale battery storage project in Barranquilla, Colombia, marking its first such project in the country. Awarded by Colombia's Ministry of Energy, the project will support the local electricity transmission network and enhance renewable energy reliability, with commercial operation expected by June 2023. The project features a 15-year revenue structure indexed to inflation, solidifying Canadian Solar's position as a leader in clean energy and energy storage.
Canadian Solar (CSIQ) has secured 86 MWp in Japan's 8th solar energy auction, marking the largest share of the capacity auctioned. This includes projects in Miyagi, Fukushima, and Aomori Prefectures, entering a 20-year power purchase agreement with Tohoku Power at a rate of ¥10.77 ($0.098) per kWh. The projects are expected to be operational between 2024 and 2026. Canadian Solar, the leading company in Japan's feed-in-tariff auction program, has a strong local presence and has executed over 45 projects since entering the market in 2011.
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