Canadian Solar and Energy Research Center of the Netherlands just announced a new technology agreement today that gives Canadian Solar access to the Energy Research Center’s metal wrap-through (“MWT”) cells. Under the joint technology development and transfer agreement, Canadian Solar will be able to apply this technology to its production lines.
This technology will provide Canadian Solar with a few key advantages. First, metal wrap-through cells increase solar cells’ effective surface and the conversion efficiency. … Read the rest
Yesterday, Canadian Solar (CSIQ) announced an expansion of the original MOU signed with LG CNS of South Korea last April. The add on MOU potentially adds another 10MW of solar projects in South Korea for next year. The country is putting the pieces in place to expand its renewable energy initiative with a Feed in Tariff and portfolio standard program. FIT programs set renewable energy prices at above market rates while portfolio standard programs require … Read the rest
Deutsche Bank is out this morning maintaining its hold rating on Canadian Solar (CSIQ) but is lowering the price target from $17 to $13. The firm says, “Recent inputs from various solar PV companies and less than hoped for improvement in the demand picture for larger systems (due to financing availability) cause us to reassess our outlook for solar … Read the rest
Canadian Solar (CSIQ) is announcing an important strategic alliance this morning with one of the largest utilities in China. CSIQ and a subsidiary of state owned China Guodian (Guodian Power), one of the country’s 5 largest utilities, will design, invest, build, operate and maintain solar power plants around Gansu, Ningxia and Inner Mongolia to start and develop new markets in the future. The first two projects will break ground in Ningxia with an initial phase … Read the rest
About three weeks ago, I passed along a post to you from NotableCalls.com which highlighted the Oppenheimer call for a strong 3rd quarter. Oppenheimer was giving the green light on CSIQ saying to expect a big 3rd quarter. But first things first! How about that 2nd quarter!
The company smashed EPS estimates by swinging to a profit in the quarter of .49/share vs the analyst estimate of a .09/loss. Remind me again why these analysts … Read the rest
Notable Calls is out with a post this morning saying that Oppenheimer is raising their price target on Canadian Solar (CSIQ) following the Intersolar trade show. While cautious on solar overall, they believe CSIQ is positioned well with a low cost structure, allowing the company to price aggressively and take market share. The firm is raising the price target from $14 to $19. They’re also increasing 2009/2010 revenue and EPS estimates to $476/.28 and $655/1.05 … Read the rest
Canadian Solar (CSIQ) is popping this morning after the company announces 120MW in existing and new sales. 30MW of that comes from Spanish company Systaic which is part of annual supply agreement announced last year, so nothing new here. They don’t get into details in the press release, but they are also announcing it has signed or reconfirming another 90MW of solar modules to be delivered from June to October to 24 customers across Europe, … Read the rest
Canadian Solar just announced that it intends to bump up its yearly production of solar modules from 620 MW to 800 MW. The increase in production is scheduled to be in place by mid-August, and will prepare the company for an expected increase in demand.
To meet the new production goals, Canadian Solar plans to hire 2,000 additional workers on top of its existing staff of 3,000.
Canadian Solar (CSIQ) is well off the morning lows and now trading up 3% after reporting a better than expected non GAAP loss of .10/share, but on revenues that plunged 71% over the year ago quarter to $49.5 million. The CEO said the company closed the quarter with a strong, liquid balance sheet and is increasing its sales staff. He believes Q2 shipment levels will be significantly higher than Q1, but is cautious due to … Read the rest
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