Canadian Solar Stock Price, News & Analysis

Recurrent Energy, a subsidiary of Canadian Solar (NASDAQ: CSIQ), has secured $183 million in project financing and tax equity for its Fort Duncan Storage project in Texas. The financing includes $112 million from Nord/LB for construction, term loan, and facilities, plus a $71 million tax equity partnership with Greenprint Capital.

The 200 MWh storage project, located in Maverick County, will operate on a merchant basis in the ERCOT grid. The facility will store and dispatch power equivalent to serving up to 66,100 households during a two-hour cycle. Currently under construction by Burns & McDonnell, the project will employ 75 workers at peak construction and is expected to be operational by Summer 2025.

The project aims to support ERCOT's peak power demand and enhance grid reliability, particularly as Texas experiences increased power demand from economic growth and AI-driven consumption. e-STORAGE is supplying the energy storage systems, and the project will generate millions in tax revenue for local community services.

Canadian Solar's (NASDAQ: CSIQ) e-STORAGE division has secured significant Battery Supply Agreements and Long-Term Service Agreements for two major U.S. energy storage projects with Aypa Power. The deals include:

• A 160 MW AC/806 MWh DC Battery Energy Storage System in California
• A 200 MW AC/998 MWh DC BESS in Texas

The projects will utilize approximately 370 SolBank 3.0 units, with construction scheduled to begin in Q3 2025. e-STORAGE will provide system maintenance and operations under a 20-year LTSA. The company's SolBank 3.0 solution features lithium-iron-phosphate battery technology, active balancing battery management, and advanced liquid cooling systems for enhanced safety and performance.

Canadian Solar (NASDAQ: CSIQ) has scheduled its fourth quarter and full year 2024 earnings conference call for March 25, 2025, at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Hong Kong time). The company will discuss its financial results and business outlook during the call.

Investors can access the live audio call through various dial-in numbers including toll-free options for U.S., Hong Kong, and Mainland China participants. A live webcast will be available on Canadian Solar's investor relations website. A replay of the call will be accessible until April 8, 2025, through both phone dial-in and webcast options.

Canadian Solar's e-STORAGE division has secured a contract with Copenhagen Infrastructure Partners (CIP) to deliver 240 MW/960 MWh battery energy storage systems in Summerfield, South Australia. The project, set to begin construction in 2025, will be one of South Australia's largest battery storage initiatives.

e-STORAGE will provide turnkey EPC services, including the supply and integration of over 200 SolBank 3.0 battery containers. The company will also support long-term performance and operations under a service agreement. Located 55 kilometers east of Adelaide, the project will contribute to South Australia's goal of achieving 100% net renewable energy by 2027 by storing excess wind and solar energy for use during peak demand periods.

The project demonstrates e-STORAGE's growing presence in Australia, where it currently has over 1.5 GWh of Battery Energy Storage Systems (BESS) under construction.

Canadian Solar's Founder, Chairman, and CEO, Dr. Shawn Qu, has been named an Innovator on the TIME100 Climate 2024 list, recognizing influential leaders driving successful and equitable climate solutions. The list includes prominent figures like World Bank President Ajay Banga and Breakthrough Energy Founder Bill Gates.

Since founding Canadian Solar in 2001, Dr. Qu has transformed the company from a startup into a global renewable energy leader operating in 23 countries, delivering over 142 GW of solar modules and 8 GWh of battery energy storage solutions worldwide.

This recognition follows Newsweek naming Canadian Solar the World's Most Trustworthy Company in the Energy and Utilities sector. Dr. Qu emphasized that Canadian Solar has evolved into a comprehensive energy solutions provider, offering solar, lithium battery energy storage, and wind power solutions to meet global energy demands.

Canadian Solar (NASDAQ: CSIQ) has opened its new global headquarters in Kitchener, Ontario, marking a significant expansion from its original founding location in Guelph. Founded in 2001, the company has grown to employ approximately 20,000 people across more than 20 countries.

The new Kitchener facility will serve as the corporate headquarters and house several subsidiary operations, including e-STORAGE and the module sales and services business units. This expansion represents a consolidation of three global business units and reinforces the company's commitment to its Canadian heritage while maintaining its position as a global leader in solar power and renewable energy solutions.

The headquarters selection has received strong support from local and regional government officials, who emphasize the potential for job creation, economic growth, and advancement in clean energy technology development in the Ontario region.

Canadian Solar's e-STORAGE division has secured contracts with Copenhagen Infrastructure Partners (CIP) to deliver 2 GWh DC of battery energy storage systems for two major projects in Scotland. The projects include the 1 GWh DC Coalburn 2 Project in South Lanarkshire and the 1 GWh DC Devilla Project near Edinburgh, both scheduled to begin construction in 2027.

e-STORAGE will supply approximately 450 SolBank 3.0 battery containers and provide long-term facility performance and operational management services. The projects will have a two-hour energy storage dispatch capability and can power around 250,000 homes for a full day. Together, they are expected to reduce approximately 4.57 million metric tons of CO2 emissions during their lifespan.

The initiatives aim to stabilize the grid, support offshore wind generation, and contribute to the UK's clean energy transition goals. Environmental measures including tree planting and habitat creation are also planned to enhance biodiversity.

Canadian Solar Inc. (NASDAQ: CSIQ) has announced three significant agreements with Sunraycer Renewables to supply and commission battery energy storage solutions and up to 2 GWp of high-efficiency solar modules for various projects in Texas. The agreements include delivering 188 MWh DC to the Gaia project in Navarro County and 127 MWh DC to the Midpoint project in Hill County, scheduled for commissioning in Q3 2025. These projects will use over 60 SolBank 3.0 battery containers featuring high-density lithium-iron-phosphate cells and advanced battery management systems.

Additionally, Sunraycer will deploy up to 2 GWp of Canadian Solar's latest high-efficiency solar modules, offering up to 85% bifaciality and 23.3% module efficiency. This collaboration aims to enhance grid stability and support Texas's clean energy transition.

Sunraycer's CEO, David Lillefloren, and e-STORAGE President, Colin Parkin, highlighted the importance of these projects for providing sustainable, clean, and affordable electricity to the grid.

Recurrent Energy, a Canadian Solar subsidiary, has signed a 10-year Power Purchase Agreement (PPA) with a major U.S. technology company for renewable energy from the Tordesillas solar PV project in Spain. The project, located in Valladolid, has an installed capacity of 300 MWp and is expected to be operational by 2026.

The project will generate approximately 620 GWh per year, powering 188,000 households and avoiding 161,000 tons of CO2 equivalent annually. Recurrent Energy plans to own and operate the facility upon completion. The company currently maintains a development pipeline in Spain exceeding 2 GW of solar projects and 60 MWh of battery energy storage.