Canadian Solar Stock Price, News & Analysis

Canadian Solar Inc. (NASDAQ: CSIQ) reported a strong first quarter of 2021, with solar module shipments reaching 3.1 GW, surpassing guidance. Revenue increased 32% year-over-year to $1.1 billion, and net income was $23 million or $0.36 per diluted share. Gross margin stood at 17.9%, aligning with expectations. The company expanded its battery storage pipeline to 17 GWh. Despite inflation and transportation costs, strategic pricing helped offset some challenges. Looking ahead, Canadian Solar maintains its full-year revenue guidance of $5.6 to $6.0 billion, anticipating robust demand in solar and battery storage markets.

Canadian Solar Inc. (NASDAQ: CSIQ) has entered into a strategic partnership with Habitat Energy Limited, a UK-based leader in battery storage optimization using AI. The agreement aims to provide enhanced technology solutions for battery storage asset developers, enabling them to maximize trading optimization and improve grid stability. Habitat Energy's proprietary software, PowerIQ, will be leveraged to optimize asset performance. This partnership will strengthen Canadian Solar's position in the energy storage market, contributing to a cleaner global power grid and maximizing returns for project owners and investors.

Canadian Solar Inc. (NASDAQ: CSIQ) announced a conference call scheduled for May 20, 2021, at 8:00 a.m. EDT to discuss its first quarter 2021 results and business outlook. The call will be accessible via various dial-in numbers, and a webcast will be available on their investor relations website. A replay will be provided after the call until May 28, 2021. Established in 2001, Canadian Solar is a leader in solar technology, having delivered over 52 GW of modules globally.

Canadian Solar's subsidiary, Recurrent Energy, has begun construction on the 100 MWac Sunflower Solar Project in Mississippi, backed by over $146 million in debt financing from Nord/LB and Rabobank. This initiative marks one of the first utility-scale solar projects in the U.S. under a Build Transfer Agreement with Entergy Mississippi, which will own the facility upon completion in early 2022. The project is expected to generate jobs for approximately 400 workers and will provide clean electricity to over 16,000 homes, significantly reducing CO2 emissions.

Canadian Solar (NASDAQ: CSIQ) filed its annual report on Form 20-F for the year ended December 31, 2020, with the U.S. SEC. The report, which includes audited consolidated financial statements, is accessible via the Company's Investor Relations website. Shareholders can request a hard copy of the report at no charge. Founded in 2001, Canadian Solar is a leading global solar technology company, having delivered over 52 GW of solar modules and developed over 5.7 GW of solar projects worldwide.

Canadian Solar has commenced mass production of its advanced HiKu7 and BiHiKu7 solar modules, delivering power outputs up to 665 W. These modules utilize proprietary technology, including hetero-type ribbon designs, promising efficiency gains and a significant reduction in levelized cost of electricity (LCOE). With an expected production capacity of 10 GW by year-end 2021, the modules are set to improve solar project returns by decreasing balance of system costs by 5.7% and LCOE by 8.9% compared to traditional modules. This advancement reinforces Canadian Solar's standing as a leader in solar technology.

Canadian Solar (NASDAQ: CSIQ) has started construction on four solar projects in Japan, totaling 143 MWp, including the 100 MWp Azuma Kofuji project in Fukushima. The project is financed by Nomura Capital Investment Co. with JPY 24.5 billion (approx. USD 230 million). Azuma Kofuji is expected to power 31,000 households and will generate energy at a rate of ¥36 ($0.34) per kWh. The Ibaraki and Hiroshima projects received JPY 8.1 billion (USD 75 million) through Green Project Bonds. Canadian Solar's investment bolsters local economies and supports Japan's carbon neutrality goals by 2050.

Canadian Solar (CSIQ) reported strong Q4 2020 results with module shipments of 3.0 GW and a revenue of $1,041 million, surpassing guidance. The gross margin improved to 13.6%, exceeding expectations. Full-year results showed a 9% increase in net revenue to $3.5 billion and net income of $147 million. The company has a robust pipeline of 20 GWp of solar projects and nearly 9 GWh of battery storage. However, increased polysilicon prices and inflation pressures remain challenges. The carve-out IPO of its subsidiary, CSI Solar, is on track for April.

Canadian Solar (CSIQ) announced a strategic partnership with SolarWorX, investing in the start-up's Series A funding along with EIT InnoEnergy and DEG. This investment aims to electrify areas in sub-Saharan Africa, where around 600 million people lack reliable power. SolarWorX's modular off-grid solar solution, Solego, offers a scalable energy distribution system. The investment will enhance SolarWorX's product portfolio and sales efforts, targeting high-demand markets with a focus on affordable power solutions.