|Over a week ago|
Canadian Solar signs two PPAs for solar power projects in Brazil » 07:0506/2306/23/20
Canadian Solar announced…
Canadian Solar announced that it recently signed two private power purchase agreements with Braskem S.A. and COPEL Energia for a total of 274 MWp in solar power projects in Brazil. For this PPA, Canadian Solar will develop and build a 152 MWp project in the State of Minas Gerais, in the same region as other projects already developed and built by the company. Construction will start in 2021 and expected to reach commercial operation before the end of 2022. This is the first PPA signed directly between Canadian Solar and an industrial customer in Brazil and sets another landmark for Canadian Solar in this market. Both projects will use Canadian Solar's high efficiency bifacial BiHiKu modules. Once in operation, the combined projects are expected to generate approximately 610 GWh of clean energy annually, equivalent to the annual electricity consumption of approximately 250,000 households.
|Over a month ago|
Fly Intel: Pre-market Movers » 09:1205/2805/28/20
ALXN, AMGN, BA, DLTR, LL, TGI, CSIQ, WDAY, DG, BURL, ANF, HPQ, TWTR, FB, IOVA
Check out this morning's…
Canadian Solar appoints Yan Zhuang as COO » 06:3605/2805/28/20
Yan Zhuang, who was…
Yan Zhuang, who was serving as acting CEO, was appointed as president and COO of Canadian Solar, effective immediately. Qu added, "I am pleased to announce that Yan Zhuang has been appointed as President and Chief Operating Officer of Canadian Solar, ceasing to be Acting CEO. In this position, Yan will continue to oversee the business operations of both the Company's Module and System Solutions and Energy businesses. I am grateful for Yan's leadership during my recovery period and look forward to continuing to work closely with him in the future."
Canadian Solar withdraws FY20 guidance amid COVID-19 » 06:2905/2805/28/20
In light of the…
In light of the uncertainty caused by COVID-19 with respect to business conditions in the second half of 2020, however, the company is withdrawing its 2020 annual financial guidance. Shawn Qu, chairman and CEO, commented: "While demand has remained relatively strong into the second quarter, there are uncertainties in the global COVID-19 environment relating to the timing of certain project sales which had been scheduled for this year. In addition, we have seen declines in module and input material ASPs, with the timing and scale of these declines creating uncertainty with respect to profit margins. We expect these dynamics to be temporary in nature, however, given the attractiveness of solar investments worldwide. We also note the accelerating development of the solar plus storage market, which we expect will become a more meaningful contributor to our future revenue growth. Over the longer term, we remain well-positioned for continued success as solar power achieves grid-parity in an increasing number of markets. We will continue to benefit from our diversified revenue and manufacturing base, healthy balance sheet and liquidity, and strong relationships with customers, suppliers and financing partners."
Canadian Solar sees Q2 revenue C$630M-C$680M » 06:2705/2805/28/20
The company said,…
The company said, "For the second quarter of 2020, the Company expects total module shipments to be in the range of 2.5 GW to 2.7 GW, including approximately 200 MW of module shipments to the Company's own projects that may not be immediately recognized as revenues. Total revenues are expected to be in the range of $630 million to $680 million, with gross margin expected to be between 18.5% and 20.5%."
Canadian Solar reports Q1 EPS C$1.84 vs. (C$0.29) last year » 06:2405/2805/28/20
Reports Q1 revenue C$826M…
Reports Q1 revenue C$826M vs. C$485M last year. Shawn Qu, chairman and CEO, commented: "We achieved a 70% increase in net revenue and 108% increase in gross profit year-over-year in the first quarter of 2020. While COVID-19's impact on the demand for our products and services was limited in the first quarter, we remain cautious given the market uncertainty and expected softness in the second half of 2020. As with past periods of volatility, we focus on supporting our employees, customers and partners; restricting discretionary spending; and investing into long-term growth opportunities. The industry's long-term fundamentals remain strong, with numerous catalysts for revenue and profitability growth. We are particularly excited by the market outlook for our Energy business, as lower equipment ASPs help to improve the profitability of our contracted projects. In addition, the low interest rate environment makes our solar projects even more sought-after as countercyclical investment assets. We will continue to sell and recycle capital to grow our project pipeline, while also growing stable, recurring revenues by retaining partial ownership of selected projects. Our focus remains on improving our return on capital and equity, as we manage the near-term challenges and enhance the Company's position for sustainable long-term growth."
Department of Interior approves plan for largest solar project in U.S. history » 12:5305/1205/12/20
TSL, CSIQ, SPWR, FSLR, JASO, YGE, SUNEQ
The Trump Administration…
The Trump Administration remains committed to its America First, all of the above approach to domestic energy production as the Department of the Interior and the Bureau of Land Management, BLM announced today the approval of a proposal to construct and operate the largest solar project in United States history. U.S. Secretary of the Interior David L. Bernhardt signed the Record of Decision, ROD, for Solar Partners XI, LLC to construct a 690-MW photovoltaic solar electric generating facility and ancillary facilities about 30 miles northeast of Las Vegas. The estimated $1B Gemini Solar Project could be the eighth-largest solar power facility in the world when finished and is expected to generate enough electricity to power 260,000 homes in the Las Vegas area and potential energy markets in Southern California. "As our economy rebounds from the invisible enemy, President Trump is working to make the United States stronger than ever before. Our economic resurgence will rely on getting America back to work, and this project delivers on that objective," said Secretary Bernhardt. Publicly traded companies in the space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunEdison (SUNEQ), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE). Reference Link
Canadian Solar subsidiary receives approval for BTA with Entergy Mississippi » 16:1904/1404/14/20
Canadian Solar announced…
Canadian Solar announced its wholly-owned subsidiary, Recurrent Energy, has received unanimous approval from the Mississippi Public Service Commission on the build-transfer agreement, or BTA, with Entergy Mississippi. The BTA has a base purchase price of approximately $138.4M with Entergy Mississippi on the 100 megawatt, or MWac, Sunflower solar photovoltaic project. With the signing of this BTA, one of the first signed in the U.S., Entergy will own the largest solar power plant in the state of Mississippi. Recurrent Energy will develop the 100 MWac Sunflower solar project, located on approximately 1,000 acres of land in Sunflower County, Mississippi. The project will use high-efficiency modules from Canadian Solar and single-axis trackers. Construction of the solar plant is expected to create approximately 360 jobs and the plant will begin commercial operation by mid-2022. Once operational, Entergy Mississippi will own the Sunflower project, allowing the regulated utility to power more than 16,000 homes with clean electricity.
Canadian Solar believes Solaria's claims are meritless and unfounded » 16:0204/1404/14/20
Canadian Solar issued the…
Canadian Solar issued the following comment: "Canadian Solar is aware that Oakland-based Solaria Corporation recently filed a complaint against Canadian Solar and Canadian Solar, USA, for patent infringement in the Northern District of California, citing a portion of the process for making Canadian Solar's shingled-cell solar modules. Canadian Solar's many other products are not cited in the complaint. Canadian Solar believes that the claims in Solaria's complaint are meritless and unfounded. Canadian Solar is working closely with its legal counsel and will vigorously defend against the claims made by Solaria. As one of the world's largest solar power companies, Canadian Solar respects and takes very seriously intellectual property rights."
|Over a quarter ago|
Fly Intel: Wall Street's top stories for Thursday » 18:5403/2603/26/20
HPQ, XRX, MU, F, TM, FCAU, HSIC, MS, C, RPAI, CAKE, ALK, SIG, CSIQ, BYND, AMN
The S&P and Dow extended…