Canadian Solar Stock Price, News & Analysis

Canadian Solar (NASDAQ: CSIQ) will hold a conference call on March 18, 2021, at 8:00 a.m. EDT to discuss its fourth quarter and full year 2020 results along with the business outlook. Dial-in options include +1-866-519-4004 (U.S.), +852-3018-6771 (Hong Kong), and +1 845-675-0437 (international). A webcast will also be available on the company's investor relations site. Additionally, a replay will be accessible until March 26, 2021. Canadian Solar is a leading manufacturer and developer in the solar industry, with over 49 GW of modules delivered globally.

Canadian Solar (NASDAQ: CSIQ) has successfully closed the Japan Green Infrastructure Fund (JGIF) with JPY22 billion (US$208 million) in committed capital. This partnership with Macquarie Advisory aims to accelerate solar project development in Japan. JGIF will provide first offer rights to the Canadian Solar Infrastructure Fund (CSIF), enhancing Canadian Solar's competitive edge. The Fund, managed under Singapore's regulations, allows for the exploration of green bond placements and project financing. This marks Canadian Solar's entry into private institutional capital, promising attractive returns to investors.

Canadian Solar's subsidiary, Recurrent Energy, has finalized the sale of the Slate project to Goldman Sachs Renewable Power LLC. This 300 MWac solar and 140.25 MW storage project is under construction in Kings County, California, with revenue to be booked in Q1 2021. The project aims for commercial operation by late 2021 and will provide energy for about 126,000 homes. Additionally, it will create around 405 construction jobs, benefiting the local economy.

Duke Energy Renewables has acquired the 144-MWac Pflugerville Solar project from Recurrent Energy (a Canadian Solar subsidiary) as part of its expansion in Texas. The project, located in Travis County, is under construction and expected to commence operations by mid-2021. It includes a 15-year power purchase agreement with Austin Energy, contributing to the utility’s renewable energy goals. This acquisition marks the fifth project Duke has taken on from Recurrent Energy, enhancing its commitment to doubling renewable resources by 2025.

Canadian Solar (NASDAQ: CSIQ) announced the sale of the 144 MWac Pflugerville Solar project in Texas to Duke Energy Renewables. The project, expected to be operational by mid-2021, will generate enough energy to power around 27,000 homes and is backed by a 15-year power purchase agreement with Austin Energy. This sale marks the fifth acquisition by Duke Energy from Canadian Solar’s subsidiary, Recurrent Energy, which currently manages over 5,700 MWac of solar projects. The transaction was facilitated with over $234 million in financing, ensuring timely construction amidst pandemic disruptions.

On January 5, 2021, Canadian Solar (NASDAQ: CSIQ) announced the sale of its ownership interest in the Hays and Jenner solar projects to BluEarth Renewables. These projects, located in southeast Alberta, have a combined capacity of 31 MWp (23 MW_AC) and are expected to begin commercial operations in 2021. BluEarth will manage these projects, which are co-owned by Conklin Métis Local 193. This deal marks the third collaboration between Canadian Solar and BluEarth, aimed at enhancing Alberta's renewable energy capacity.

Canadian Solar Inc. (NASDAQ: CSIQ) has completed the sale of its remaining 30% stake in the Big Fish and Iron solar projects in Sicily, Italy, to Falck Renewables, bringing the total capacity of the projects to over 290 MWp. The company expects to recognize revenue from this sale in Q4 2020. Canadian Solar continues to expand its pipeline in Italy, with over 1.3 GWp planned, and anticipates strong growth in energy sale agreements as the country pushes to increase its solar capacity. CEO Dr. Shawn Qu highlights the positive outlook for solar energy in Italy.

Canadian Solar Inc. (NASDAQ: CSIQ) has sold its 19 MWp operational solar power plant, Gunma Aramaki, located in Japan's Yamaguchi Prefecture, for JPY6.8 billion (approximately US$64 million). The company retains asset management and operations & maintenance services for the plant under a long-term agreement. The project generates revenue by selling electricity at JPY36 (US$0.35) per kWh to Tokyo Electric Power Company. Canadian Solar continues to focus on expanding its portfolio with plans to double the assets of its infrastructure fund by 2022.

Canadian Solar (NASDAQ: CSIQ) announced a significant advancement in its solar project portfolio, securing a power purchase agreement (PPA) with BTG Pactual for a 170 MWp solar project in Minas Gerais, Brazil. Additionally, the company won two projects totaling 692 MWp through a private auction with Furnas Centrais Elétricas. Construction is slated to begin in 2021 for the BTG project and 2022 for Furnas projects, with commercial operation expected by end of 2022 and end of 2023 respectively. This deal boosts Canadian Solar's project backlog in Brazil to nearly 2.2 GWp.