Canadian Solar

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Canadian Solar Inc.
TypePublic company
CSIQ (NASDAQ)
IndustryRenewable energy, Photovoltaics industry
Founded2001 (2001)
Headquarters
Guelph, Ontario
,
Canada
Number of locations
Canada, Germany, Italy, Spain, South Africa, India, United Arab Emirates, Japan, Korea, Australia, the United States, Singapore, Hong Kong, China, Brazil, Panama, Turkey, United Kingdom, South Africa, Vietnam, Indonesia
Key people
Shawn Qu (Chairman, President, CEO)
ProductsPhotovoltaic modules, photovoltaic systems
RevenueIncrease $3.5 billion (2020) [1]
Increase $147 million (2020) [1]
Number of employees
13,478 (2020)[2]
Websitewww.canadiansolar.com

Canadian Solar Inc. is a publicly traded company that manufactures solar PV modules and runs large scale solar projects.

History[]

Founded in 2001 in Guelph, Ontario, Canada by Shawn Qu, Canadian Solar (NASDAQ: CSIQ) has subsidiaries in over 24 countries on 6 continents.[3] They manufacture solar PV modules, are involved in supporting the installation of solar energy, and are involved in a number utility-scale power projects. With the company's acquisition of Recurrent Energy, Canadian Solar's total project pipeline reached 20.4 GW, including an increase in the late-stage project pipeline to 2.4 GW.

In November 2006, the company went public (Nasdaq: CSIQ) at $15 per share.[4]

Including two manufacturing facilities in Ontario, Canadian Solar employs nearly 9,000 workers worldwide. This translates to more than 16 GW of panel shipments, or approximately 70 million PV modules, in the past 15 years.[3]

The Human Rights Foundation criticized the firm after a 2021 report by The Globe and Mail revealed the company operates a solar farm in Xinjiang, China nearby a Uyghur internment camp.[5] In response to a question about the firm at a news conference, Prime Minister Justin Trudeau said, "We will continue to work very, very closely and follow up with [Canadian Solar Inc., Dynasty Gold Corp. and GobiMin Inc.], and all companies that have investments in that area, to ensure they are following Canadian values and Canadian law."[6] The Globe further uncovered that in 2019 Canadian Solar signed a major agreement with the polysilicon manufacturer GCL-Poly, a company whose Xinjiang subsidiary has ties to forced labour.[7]

Manufacturing[]

Canadian Solar production facilities in Canada, China, Indonesia, Vietnam and Brazil make ingots, wafers, solar cells, solar PV modules, solar power systems, and other solar products.

The bulk of Canadian Solar's manufacturing facilities are located in Canada and China.[8] The Ontario plant has a production capacity of over 500 MW per year.[9]

Products[]

Canadian Solar offers solar modules, solar power systems, off-grid solar home systems and other solar products.

Canadian Solar's global PV project business unit has been in operation for over six years and develops PV projects worldwide, specializing in project development, system design, engineering and financing. In addition, Canadian Solar can handle the deployment of photovoltaic projects systems, ranging a few hundred kilowatts to mega-watts.

Canadian Solar's standard modules are powered by 156 x 156 mm (6 inch) mono-crystalline or poly-crystalline solar cells.

Projects[]

Below are some of Canadian Solar's projects:

Europe[]

  • 1 MW – Munich, Germany (July 2010) [10]
  • 70 MW – Solarpark Meuro, Meuro, Germany (August 2011)
  • 78 MW – Senftenberg Solarpark Senftenberg, Germany (September 2011)
  • 70 MW – Rovigo Photovoltaic Power Plant, Rovigo, Italy (November 2010)
  • 15 MW – Three systems of 5 MW each, Conwall, UK (September 2011)
  • 8 MW – Villeneuve de Marsan, France (April 2012)

North America[]

  • 27 MW – Sunnybrook Health Services, Canada (2009)
  • 5 MW – Extreme Makeover: Home Edition, Georgia, USA (May 2010)
  • 148 MW – Ronald McDonald House, San Diego, California, USA (June 2010)
  • 5 MW – Keystone Solar Farm, Pennsylvania, USA (October 2012)
  • 8.5 MW - Canadian Solar 1 (CS1), Canada (August 2012)
  • 10 MW – Brockville 1, Canada (June 2013)
  • 9 MW – Brockville 2, Canada (September 2013)
  • 10 MW – Silvercreek Solar Park, Canada (January 2014)
  • 146.4 MW – Honduras (October 2014) [11]
  • 28.4 MW – Los Angeles, California (November 2014) [12]
  • 5.86 MW – Massachusetts (July 2014) [13]
  • 10 MW – Ontario, Canada (January 2015)
  • 100 MW – Ontario, Canada (July 2015) [14]
  • 100 MW – Texas Solar Project, Texas (November 2015) [15]
  • 100 MW – Kings County, California (August 2016) [16]
  • 200 MW – California (September 2016) [17]
  • 258 MW – Fresno County, California (September 2016) [18]
  • 60 MW – Los Angeles, California (September 2016) [19]
  • 5.74 MW – Fowler, California (November 2016) [20]

South America[]

  • 185 MW – Brazil (September 2016) [21]
  • 191.5 MW – Brazil (October 2016) [22]
  • 114 MW – Brazil (November 2016) [23]

Asia-Pacific[]

  • 30 MW - Near Tumxuk, Xinjiang, China (2019)[5]
  • 10 MW – , China (August 2010)
  • 20 MW – , Inner Mongolia, China (December 2013)
  • 30 MW – Suzhou Golden Sun Projects, China (November 2012)
  • 25 MW – , Bikaner, Rajasthan, India (November 2013)
  • 1.3 MW – Hyogo, pref. Awaji city, Japan (January 2013)
  • 5 MW – , Australia (December 2015) [24]
  • 17.4 MW – Longreach Solar Farm, Australia (September 2016) [25]
  • 30 MW – Oakey Solar Farm, Australia (September 2016) [25]
  • 30 MW – Telangana, India (October 2016) [26]
  • 190MW - Suntop Solar Farm - Australia (October 2020)
  • 146MW - Gunnedah Solar Farm, Australia (October 2020)

Acquisitions[]

: Canadian Solar completed the acquisition of solar developer Recurrent Energy from Sharp Corporation for approximately $265 million in 2015.[27]

References[]

  1. ^ a b "Q4 & FY Results 2020". Canadian Solar. Retrieved 4 April 2020.
  2. ^ "Canadian Solar Company Info". Bloomberg News.
  3. ^ a b Inc, Canadian Solar. "Make The Difference | Canadian Solar". www.canadiansolar.com. Archived from the original on 2016-03-29. Retrieved 2018-10-12.
  4. ^ "2006: The Year of the Solar IPO Boom". SeekingAlpha. 22 January 2007. Archived from the original on 2007-10-12. Retrieved 2021-02-20.
  5. ^ a b Green, David; VanderKlippe, Nathan (18 January 2021). "Canadian firms operate in China's Xinjiang region". The Globe and Mail. Retrieved 18 January 2021.
  6. ^ Fife, Robert; Chase, Steven; VanderKlippe, Nathan (19 January 2021). "Trudeau warns Canadian companies in China to avoid using forced labour". The Globe and Mail. Retrieved 20 January 2021.
  7. ^ VanderKlippe, Nathan (January 28, 2021). "Canadian Solar denies use of forced labour at its solar farm in western China". The Globe and Mail. Retrieved 29 January 2021.
  8. ^ "Solar firm making return to its Canadian roots" – via The Globe and Mail.
  9. ^ "Canadian Solar, a home-grown success story". APPrO. Retrieved 2018-10-14.
  10. ^ "Canadian Solar & Green City Complete 1-MW Project". www.renewableenergyworld.com. Retrieved 2018-10-12.
  11. ^ "Canadian Solar Inc. (CSIQ) Strikes 146.4 MW Honduras Deal". Retrieved 2018-10-14.
  12. ^ Inc., Canadian Solar. "Canadian Solar Completes Sale of 28.4 MW Solar Plant in the United States". www.prnewswire.com. Retrieved 2018-10-12.
  13. ^ "EDF Completes 5.86 MW in Massachusetts". Archived from the original on 2016-11-10. Retrieved 2016-11-09.
  14. ^ "Canadian Solar Completes 100 MW Utility-Scale Project In Ontario - Solar Industry". Solar Industry. 2015-07-27. Retrieved 2018-10-14.
  15. ^ "Canadian Solar Subsidiary Recurrent Energy Partners in 157 MW Texas Solar Project | AltEnergyMag". Retrieved 2018-10-12.
  16. ^ "Canadian Solar subsidiary brings 100 MW California solar plant online - Canadian Manufacturing". Canadian Manufacturing. 2016-08-23. Retrieved 2018-10-14.
  17. ^ Inc, Canadian Solar. "Canadian Solar Subsidiary Recurrent Energy Completes 200 Megawatt Tranquillity Solar Project". www.prnewswire.com.
  18. ^ "Das Internetportal für erneuerbare Energien". Solarserver. Retrieved 2019-11-14.
  19. ^ "Canadian Solar Subsidiary Recurrent Energy Reaches Commercial Operation of 60 Megawatt Barren Ridge Solar Project". Archived from the original on 2016-11-10. Retrieved 2016-11-09.
  20. ^ "Archived copy". finance.yahoo.com. Archived from the original on 4 November 2016. Retrieved 17 January 2022.{{cite web}}: CS1 maint: archived copy as title (link)
  21. ^ "Canadian Solar Gets 185-MW Solar PV Projects in Brazil". NASDAQ.com. 2015-09-04. Retrieved 2018-10-12.
  22. ^ "Archived copy". finance.yahoo.com. Archived from the original on 12 October 2016. Retrieved 17 January 2022.{{cite web}}: CS1 maint: archived copy as title (link)
  23. ^ Inc., Canadian Solar. "Canadian Solar Wins 114 MW of Solar Power Projects In Brazil". www.prnewswire.com. Retrieved 2018-10-12.
  24. ^ Inc, Canadian Solar. "Solar Project: Normanton Solar Farm, Australia | Canadian Solar". www.canadiansolar.com. Retrieved 2018-10-12.
  25. ^ a b "Canadian Solar Wins ARENA Funding For 47MWp Solar Power Projects In Australia". Archived from the original on 2016-11-10. Retrieved 2016-11-09.
  26. ^ "Canadian Solar Enters India's Solar Market | CleanTechnica". cleantechnica.com. 25 October 2016. Retrieved 2018-10-12.
  27. ^ "Canadian Solar to Acquire Recurrent Energy from Sharp Corporation for $265 Million". Recurrent Energy. February 3, 2015.

External links[]

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