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Canadian Solar Inc. Common Shares (ON) - CSIQ STOCK NEWS

Welcome to our dedicated page for Canadian Solar Common Shares (ON) news (Ticker: CSIQ), a resource for investors and traders seeking the latest updates and insights on Canadian Solar Common Shares (ON) stock.

Canadian Solar Inc. (NASDAQ: CSIQ) is a leading name in the solar power industry, known for its comprehensive approach to solar technology and renewable energy solutions. Founded in 2001 in Canada, the company has grown to become one of the world's largest solar technology and renewable energy companies.

Canadian Solar operates through two main business segments: CSI Solar and Recurrent Energy. The CSI Solar segment focuses on designing, developing, and manufacturing solar ingots, wafers, cells, modules, and battery storage products. These products are engineered to convert sunlight into electricity, serving a range of residential, commercial, and industrial uses. In addition, the company offers specialty solar modules for custom applications such as solar-powered bus stop lighting and solar car battery chargers.

The Recurrent Energy segment is dedicated to solar and battery storage project development, operations, and maintenance (O&M) services. This segment also handles the sale of electricity generated from its solar projects and manages investments in retained assets. With an extensive pipeline of utility-scale solar power and battery storage projects, Recurrent Energy is making significant strides globally.

Canadian Solar has achieved remarkable milestones in the renewable energy sector. Over the past 22 years, the company has delivered over 118 GW of high-quality solar photovoltaic modules worldwide. Since venturing into project development in 2010, Canadian Solar has developed, built, and connected approximately 10 GWp of solar power projects and 3.3 GWh of battery energy storage projects globally. Currently, the company has around 1 GWp of solar power projects in operation, with an additional 7.4 GWp under construction or in backlog. The company's battery energy storage development pipeline stands at approximately 55 GWh, with 3.5 GWh under construction or in backlog.

Recent Achievements and Projects:

  • On March 28, 2024, Canadian Solar responded to a patent infringement lawsuit filed by Maxeon Solar, asserting that the claims were without merit and expressing confidence in their technology.
  • Recurrent Energy secured a €110 million multi-currency facility on April 3, 2024, to support its global solar PV and energy storage project pipeline.
  • Recurrent Energy obtained 343 million Brazilian reais (approximately $70 million) in project financing for its Jaiba III solar project in Brazil on April 15, 2024.
  • Canadian Solar announced its Q1 2024 results and business outlook, revealing robust performance and strategic growth plans.
  • The company filed its annual report for 2023 on April 26, 2024, providing detailed insights into its financial performance and future strategy.
  • Canadian Solar won three BESS projects totaling 193 MW in Japan’s first Long-Term Decarbonization Power Source Auction on May 8, 2024.
  • Recurrent Energy secured a €1.3 billion revolving credit facility on May 23, 2024, to fund renewable energy projects in Europe.
  • Recurrent Energy inaugurated the Marangatu Solar Complex in Brazil on June 10, 2024, a significant project expected to power 550,000 homes annually.

Canadian Solar continues to expand its footprint in the renewable energy market, emphasizing innovation, sustainability, and financial strength, making it a steadfast player in the global transition to clean energy.

News

Recurrent Energy Expands Solar Pipeline in Spain with the Acquisition of a Portfolio exceeding 420 MWp

Rhea-AI Summary
Canadian Solar Inc.'s subsidiary, Recurrent Energy, acquires a 420 MWp solar PV portfolio in Spain, with plans to start construction on over 1 GW of solar projects in 2024. The acquisition includes four projects in Carmona, Seville, utilizing Canadian Solar's advanced technology. The projects aim to provide clean energy, create jobs, and reduce CO2 emissions, benefiting the local community.
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Canadian Solar Reports Fourth Quarter and Full Year 2023 Results

Rhea-AI Summary
Canadian Solar Inc. (CSIQ) reported a 26% increase in solar module shipments year-over-year to 8.2 GW, with record full year solar module shipments of 30.7 GW. The company achieved full year revenues of $7.6 billion and net income of $274 million. They secured a $500 million investment in Recurrent Energy from BlackRock. Dr. Shawn Qu highlighted the transition to N-type TOPCon solar technology and strong demand for U.S.-made products. Yan Zhuang emphasized vertical integration and advanced technology for competitive edge. Ismael Guerrero discussed the transition to a developer plus long-term owner and operator model. Dr. Huifeng Chang mentioned $1.7 billion in revenue, a gross margin of 12.5%, and a cash position of $3 billion.
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Canadian Solar Partners with Sol Systems to Ramp Up U.S. Module Manufacturing

Rhea-AI Summary
Canadian Solar Inc. partners with Sol Systems to scale solar module production in the U.S., providing high-efficiency N-Type TOPCon modules. The partnership aims to support Sol Systems' U.S. project pipeline between 2024 and 2025, creating new American manufacturing jobs.
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Canadian Solar Celebrates Contribution to Historic 100% Renewable Energy-Powered Super Bowl LVIII in Las Vegas

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Canadian Solar Inc. played a key role in powering the first-ever Super Bowl to be entirely run on renewable energy at Allegiant Stadium in Las Vegas. The Arrow Canyon solar project, utilizing over 600,000 Canadian Solar photovoltaic modules, provided a sustainable power supply for the event, showcasing the viability of renewable energy sources for major events and facilities.
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Recurrent Energy Closes Project Financing for 119 MW Solar Project in Mexico

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Canadian Solar's subsidiary, Recurrent Energy, secures financing for its 119 MW Horus Solar project in Mexico. The project has a power purchase agreement and operates with high-efficiency modules.
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CANADIAN SOLAR WINS TOP BRAND PV AWARD IN THE UNITED STATES

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Canadian Solar Inc. (NASDAQ: CSIQ) has been honored with the 'Top Brand PV Award USA 2024' by EUPD Research, showcasing its industry-leading reliability and trust. The award recognizes Canadian Solar's 22-year legacy of innovation and quality in the photovoltaic market, highlighting its commitment to excellence and customer satisfaction.
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Canadian Solar Schedules Fourth Quarter and Full Year 2023 Earnings Conference Call for March 14

Rhea-AI Summary
Canadian Solar Inc. announced a conference call to discuss its Q4 and full-year 2023 results and business outlook on March 14, 2024. The call will be held at 8:00 a.m. U.S. Eastern Time and a webcast will be available on their website. A replay will be accessible until March 28, 2024.
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Recurrent Energy Closes $160 Million in Project Financing, Secures Microsoft as Customer for 127 MW Solar Project in Louisiana

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Recurrent Energy, a subsidiary of Canadian Solar Inc., secured $160 million in project financing for its 127 MWdc Bayou Galion Solar project in Louisiana. Microsoft will purchase 100% of the energy and renewable energy credits to support its goal to be carbon negative by 2030. The project will significantly expand renewable energy capacity in Louisiana, with Mitsubishi UFJ Financial Group, Inc. acting as Coordinating Lead Arranger for the financing.
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Recurrent Energy Announces $500 Million Capital Commitment from BlackRock to Grow Its Global Renewable Energy Platform

Rhea-AI Summary
Recurrent Energy, a subsidiary of Canadian Solar Inc., has secured a $500 million investment from BlackRock, representing 20% of its outstanding shares. This capital will help Recurrent Energy expand its project development pipeline and transition into a long-term owner and operator in select markets. The investment is expected to create a more diversified portfolio and provide stable long-term revenue in low-risk currencies. Recurrent Energy is a leading utility-scale solar and energy storage project development platform, with a global development pipeline of 26 GW in solar and 55 GWh in storage. The investment is subject to regulatory approvals and certain terms and conditions.
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Canadian Solar's e-STORAGE to Deliver 220 MWh DC of Battery Storage Solutions to Epic Energy's Mannum Project in South Australia

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Canadian Solar Inc. (NASDAQ: CSIQ) announced that e-STORAGE, a part of its majority-owned subsidiary CSI Solar Co., Ltd., will deliver 220 MWh DC of energy storage solutions to a standalone energy storage project owned by Epic Energy in Mannum, South Australia. The project will employ SolBank, a proprietary energy storage solution using lithium-iron-phosphate (LFP) cells, and will be constructed in the second quarter of 2024. The project reflects Epic Energy's commitment to renewable energy generation and complements the existing solar farm capacity at the same location, serving as a vital energy reservoir to enhance grid stability in the region.
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FAQ

What is the current stock price of Canadian Solar Common Shares (ON) (CSIQ)?

The current stock price of Canadian Solar Common Shares (ON) (CSIQ) is $11.5 as of December 20, 2024.

What is the market cap of Canadian Solar Common Shares (ON) (CSIQ)?

The market cap of Canadian Solar Common Shares (ON) (CSIQ) is approximately 734.5M.

What does Canadian Solar Inc. do?

Canadian Solar Inc. designs, develops, manufactures, and sells solar cell and module products that convert sunlight into electricity for residential, commercial, and industrial uses.

What are the two main business segments of Canadian Solar?

The two main business segments are CSI Solar, focused on manufacturing solar products, and Recurrent Energy, which handles solar and battery storage project development and operations.

Where are Canadian Solar's manufacturing operations located?

All of Canadian Solar's manufacturing operations are conducted in China.

What recent projects has Canadian Solar undertaken?

Canadian Solar has recently undertaken projects like the Jaiba III solar project in Brazil, securing a multi-currency facility for global projects, and winning BESS projects in Japan.

What is Canadian Solar's role in the renewable energy industry?

Canadian Solar is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects.

How much solar power has Canadian Solar delivered globally?

Canadian Solar has delivered over 118 GW of solar photovoltaic modules to customers across the world.

What is Canadian Solar's market presence?

Canadian Solar has a strong global presence with operations in various countries, including extensive project pipelines in Japan, Brazil, the United States, and Europe.

What significant financial achievements has Canadian Solar reported recently?

Canadian Solar secured significant funding, including a €1.3 billion credit facility for European projects and $70 million financing for the Jaiba III project in Brazil.

How does Canadian Solar contribute to sustainability?

Canadian Solar contributes to sustainability by developing clean energy projects, reducing carbon emissions, and advancing renewable energy technology and storage solutions.

What is the significance of Canadian Solar's recent patent lawsuit?

Canadian Solar is currently defending against a patent infringement lawsuit filed by Maxeon Solar, asserting confidence in their technology and processes.

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Canadian Solar Inc. Common Shares (ON)

Nasdaq:CSIQ

CSIQ Rankings

#2776 Ranked by Market Cap
N/A Ranked by Dividends

CSIQ Stock Data

734.54M
47.29M
28.54%
54.8%
15.65%
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