Canadian Solar just announced a new sales contract with Fire Energy Group. Under the contract, Canadian Solar will provide Fire Energy with 60MW of solar PV modules, with shipments expected to start this month. Fire Energy Group will also promote Canadian Solar’s product line in the following countries: Spain, Germany, Italy, the U.S., the Czech Republic, Morocco and China.
In a press release, Shawn Qu, Chairman and CEO of Canadian Solar, commented on the agreement:… Read the rest
Solar stocks have been hit hard over the past hour as Reuters reported Germany would begin cutting subsidies by 16 – 17% in April. German cuts have long been expected, but some had called for a 10% reduction later in the year, so this is a bit more than what some expected. Not to mention solar stocks (the China names in particular) have been on a tear, so any negative news was bound to throw … Read the rest
Canadian Solar (CSIQ) has announced a partnership and distribution deal with West Holding of Japan to push further into a growing Japanese solar market. As part of the joint venture, CSIQ will transfer 14% of the shares of the Canadian Solar Japan subsidiary to West Holding. West Holding will be responsible for marketing and distribution of approximately 18MW in residential rooftop solar systems this year.
CSIQ CEO Shawn Qu said, “West Holding is a leading … Read the rest
According to StreetInsider.com, Collins Stewart is out this morning joining the solar bull parade and raising the targets and estimates for both Canadian Solar (CSIQ) and Trina Solar (TSL).
They reiterate the Buy rating on Canadian Solar and padded the price target to $40 from $26. The firm cites “slightly higher volumes and a higher average selling price in Q210.” Raised Q2 ASP assumption from $1.70/w to $1.80/w and its CY10 shipment forecast from … Read the rest
Canadian Solar just announced its intention to build a new solar panel manufacturing plant in Ontario, Canada. The company is currently making plans and determining the plant’s exact location, size and cost. The plans are expected to be finalized next year. Tentatively, the company plans to build a 200MW plant with an estimated cost of approximately C$24 million. A plant of this size would create 500 new manufacturing jobs and produce enough solar modules to … Read the rest
Canadian Solar (CSIQ) reported a strong Q3 EPS this morning of $0.69 which was .14/share better than analyst estimates and a more than 50% increase over the year ago quarter. It’s also a new record for the company. Revenues were below the year ago quarter by about 15% at $213 million, but was better than what analysts expected.
The CEO said European demand remains strong and contributed greatly to the success in the quarter with … Read the rest
Canadian Solar just announced that its CS5A and CS5P series have set a new record for PTC ratings in P-Type silicon modules, earning rating of ratings of 190 and 250 watts in tests designed to simulate real-world power generation conditions.
Canadian Solar also announced that its new Enhanced Selective Emitter (ESE) technology, which enhances the performance of solar cells, has been tested successfully.
In a press release, Dr. Shawn Qu, Canadian Solar’s Chairman and … Read the rest
After the bell today Canadian Solar (CSIQ) raised guidance for the 3rd quarter and the full year 2009 based on unaudited financial results and a “high level of interest at the Hamburg trade show and subsequent purchase orders”. The company now expects 3rd quarter revenues of $210 – 215 million and shipments of 101 – 103MW which compares to previous estimates of 90 – 100MW of shipments. They are also raising their full year guidance … Read the rest
Canadian Solar just announced that it has signed an agreement with Satcon, the utility scale power solutions provider. As part of the turnkey solution distribution agreement between the two companies, they will be bundling Canadian Solar’s commercial solar PV systems with Satcon’s commercial solar PV inverters and marketing them together.
This should benefit customers by making it easier for them to design and install a solar power system that meets their needs. It also meets … Read the rest
Two green stock upgrades this morning in CSIQ and ITRI..
Collins Stewart is upgrading Canadian Solar (CSIQ) to Buy and setting the price target at $21.
Hat tip to Street Insider for the following analyst notes.
The firm still sees Q3 traditional module shipments of 90MW, but lowered its quarterly estimate for eModules from 15MW to 10MW. Collins Stewart also lowered its Q3 average selling price estimate from $2.15 per watt to $2.08. The firm … Read the rest