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) has closed a supply contract with Goldman Sachs Renewable Power to deliver a 75 MW / 300 MWh lithium-ion battery storage system for the Mustang solar plant in California. This retrofit aims to enhance the plant's operations by integrating solar power generation with battery storage, aiding California's renewable energy goals. Construction is set to begin in early 2021, with expected operational status by the second half of 2021. The project signifies a strategic partnership, demonstrating Canadian Solar's commitment to innovative energy solutions.
Canadian Solar (NASDAQ: CSIQ) has successfully secured financing for its 126 MWp Tastiota project in Sonora, Mexico. The financing package, valued at approximately US$93 million, encompasses a US$67 million senior loan, US$15 million letter of credit, and a US$12 million VAT facility, arranged by Sumitomo Mitsui Banking Corporation. Under a 15-year Power Purchase Agreement with the Federal Electricity Commission, the plant is set to commence operations by the end of 2020. This project contributes to Canadian Solar's 436 MWp portfolio of PPAs in Mexico, signaling confidence in the company's renewable energy endeavors.
Canadian Solar (NASDAQ: CSIQ) appointed Leslie Li Hsien Chang as an independent director on September 25, 2020. This move comes ahead of the planned carve-out IPO of its Module and System Solutions (MSS) subsidiary, CSI Solar Co., Ltd. Yan Zhuang has transitioned to President of CSI Solar, while Guangchun Zhang steps in as Senior VP, Operations and Technology for CSI Solar, effective September 29, 2020. Chang brings extensive experience in financial markets, critical for the upcoming China listing.
Canadian Solar Inc. (CSIQ) has secured RMB 1.78 billion (approx. US$260 million) in capital raising for its Module and System Solutions subsidiary, CSI Solar. This funding involves strategic investments from CDH Investment Management and SIP Oriza. The deal values CSI Solar at RMB 7.50 billion (US$1.1 billion). Additionally, Canadian Solar employees will invest RMB 31 million (US$4.5 million) in shares, while eligible employees and board members will buy new shares worth RMB 248 million (US$36 million) at a 30% discount. Following the transaction, stakeholders will collectively hold 99% of CSI Solar.
Canadian Solar (NASDAQ: CSIQ) is actively defending against a patent lawsuit by Solaria that began in April 2020 in California. The company countersued, asserting that its products do not infringe Solaria's patents and claiming that Solaria withheld critical evidence, making those patents invalid. In response, Solaria initiated a new lawsuit with the U.S. International Trade Commission (ITC) regarding shingled solar modules. Canadian Solar is committed to defending its position while continuing to innovate in the solar energy market.
Canadian Solar (NASDAQ: CSIQ) has completed the sale of the Suffield Solar Project to BluEarth Renewables. This facility, under construction in Alberta, will have a capacity of 23 MWac, capable of powering approximately 7,300 homes annually. The project has received funding from Natural Resources Canada and will utilize Canadian Solar’s high-efficiency bifacial modules and single-axis trackers to enhance energy generation. An offtake agreement with Direct Energy is in place, promising steady revenue once operational.
Canadian Solar (NASDAQ: CSIQ) announced the successful closing of its offering of US$230 million in convertible senior notes, yielding approximately US$223 million in net proceeds. The offering included an option for initial purchasers to acquire an additional US$30 million. This capital will enhance the company's manufacturing capacity and project pipeline, positioning it for growth in the accelerating solar energy market. CEO Dr. Shawn Qu highlighted strong investor support and the importance of this funding for expanding Canadian Solar's market share and future earnings potential.
Canadian Solar (NASDAQ: CSIQ) has announced the pricing of a US$200 million offering of convertible senior notes due in 2025. The notes carry an interest rate of 2.50% and will mature on October 1, 2025. Proceeds from this offering will be used for general corporate purposes, including expanding manufacturing capacity and solar project development. The company has an option for an additional US$30 million in notes. The offering is expected to close by September 15, 2020, subject to customary conditions.
Canadian Solar Inc. (NASDAQ: CSIQ) announces a proposed offering of US$200 million in convertible senior notes due 2025, with an additional US$30 million option for initial purchasers. The proceeds will be used for corporate purposes, including expanding manufacturing capacity and solar power projects. The notes will be senior, unsecured, and convertible, subject to market conditions, with a maturity date of October 1, 2025. They will be offered to qualified institutional buyers and non-U.S. persons. The offering is not guaranteed to be completed.
Canadian Solar (NASDAQ: CSIQ) has announced the appointment of Yan Zhuang and Dr. Huifeng Chang to its Board of Directors, effective September 15, 2020. Yan Zhuang, currently President and COO, has been with Canadian Solar since 2007 and played a vital role in the company’s expansion. Dr. Chang, the CFO since May 2016, has extensive experience in capital markets and finance. CEO Dr. Shawn Qu expressed confidence that their expertise will enhance the company's growth, especially ahead of the planned China listing of its MSS business.
