Released May 21, 2021 | SUGAR LAND
en
Researched by Industrial Info Resources (Sugar Land, Texas)--Canadian Solar Incorporated (NASDAQ:CSIQ) (Guelph, Ontario) is building on improved demand for its solar-energy products with stronger investments in battery-storage technology. With major, multiphase projects under construction and in development across North America, the company is preparing for significant growth over the coming year. Industrial Info is tracking more than $4 billion in active projects worldwide from Canadian Solar, including about $2.6 billion worth in the U.S. and Canada.
Click on the image at right for a graph detailing Canadian Solar's active U.S. and Canadian projects, by state or province.
Canadian Solar shipped 3.1 gigawatts (GW) of solar modules worldwide in the first quarter of 2021, a 42% increase from the same period last year. Of that total, 267 megawatts (MW) were shipped to the company's own utility-scale solar power projects. Canadian Solar projects its full-year 2021 module shipments will total between 18 GW and 20 GW.
The top five markets for Canadian Solar in first-quarter 2021, ranked by shipments, were the U.S., China, Brazil, Australia and Japan, according to the company.
Recurrent Energy, a U.S.-based subsidiary of Canadian Solar, is underway on construction of two of its highest-valued projects in the U.S. South: the $165 million East Blackland Solar Farm in Manor, Texas, and the $138.4 million Sunflower County Solar Farm in Ruleville, Mississippi. The projects are designed to generate 144 MW and 100 MW, respectively, from photovoltaic (PV) panels. The East Blackland project began construction in August and is set to wrap up in July, while the Sunflower County project kicked off in February and is scheduled to be completed in June 2022. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed reports for the East Blackland and Sunflower County projects.
Texas ranks fourths among U.S. states in installed solar capacity, with more than 4 GW of capacity slated to be installed through the end of 2025, according to a recent report from Wood Mackenzie (Edinburgh, Scotland) and the Solar Energy Industries Association (Washington, D.C.).
Recurrent also heard some good news earlier this month from the U.S. Department of the Interior (Washington, D.C.), which approved the Crimson Solar Park in Blythe, California. The two-phase project is being developed by Recurrent and Sonoran West Holdings LLC (San Francisco, California) to generate a total of 450 megawatts (MW) for utility Southern California Edison, a subsidiary of Edison International (NYSE:EIX) (Rosemead, California). Subscribers can learn more from Industrial Info's project reports on Phase I and Phase II, and May 11, 2021, article - As Wildfires Loom, California's Edison Boasts More Durable Transmission, Rapid Decarbonization.
This summer, Canadian Solar expects to begin construction on Recurrent's $62 million Tranquillity Battery Storage project in Cantua Creek, California, a 72-MW battery-energy storage system (BESS) at the existing Tranquillity Solar Farm, and the $30 million Tilley Solar Plant near Tilley, Alberta, which is designed to generate 21 MW from 79,000 ground-mounted PV panels. Subscribers can learn more from Industrial Info's reports on the Tranquillity BESS and Tilley projects.
The Tranquillity BESS project is part of a broader buildout of Recurrent's Tranquillity solar complex. The subsidiary also is seeking permits for its proposed Scarlet Solar Project, which would be built nearby and share Tranquillity's substation. Recurrent envisions a 200-MW Solar Energy Center, which would have its output doubled by a second phase, and a 400-MW BESS project. These developments--which are in their early planning phases, where plenty of factors could alter or eliminate projected spending--would begin construction within the first half of 2022 and wrap up by the end of the year, as currently planned. Subscribers can read more details in Industrial Info's reports on the Solar Energy Center, its second phase and the BESS project.
Executives at Canadian Solar say the company is now integrating BESS into its solar project-development pipeline. The company has 1.2 gigawatt-hours (GWh) of battery-storage projects under construction and has doubled the battery-storage component of its project-development pipeline to 17 GWh. During the first quarter, Canadian Solar agreed to a strategic partnership with BESS developer Habitat Energy (Oxford, England), in which it will invest in the U.K.-based company and strengthen its own battery-storage capabilities.
"We nearly doubled our total storage project development pipeline and expect this positive momentum to continue, which should greatly enhance the value of our development pipeline," said Shawn Qu, the chief executive officer of Canadian Solar, in a quarterly press release. "We further strengthened our competitive position with our recent strategic partnership with Habitat Energy, which will leverage our global scale and platform, while helping us improve the software capabilities of our battery-storage projects."
In the press release, Canadian Solar said "the rapid growth of the energy-storage market is being driven by technology improvements, declining battery-storage costs, rising penetration of renewable energy and accelerating retirements of fossil-fuel capacity."
Canadian Solar presently has 3 megawatt-hours (MWh) of operational battery storage projects in North America.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
Click on the image at right for a graph detailing Canadian Solar's active U.S. and Canadian projects, by state or province.Canadian Solar shipped 3.1 gigawatts (GW) of solar modules worldwide in the first quarter of 2021, a 42% increase from the same period last year. Of that total, 267 megawatts (MW) were shipped to the company's own utility-scale solar power projects. Canadian Solar projects its full-year 2021 module shipments will total between 18 GW and 20 GW.
The top five markets for Canadian Solar in first-quarter 2021, ranked by shipments, were the U.S., China, Brazil, Australia and Japan, according to the company.
Recurrent Energy, a U.S.-based subsidiary of Canadian Solar, is underway on construction of two of its highest-valued projects in the U.S. South: the $165 million East Blackland Solar Farm in Manor, Texas, and the $138.4 million Sunflower County Solar Farm in Ruleville, Mississippi. The projects are designed to generate 144 MW and 100 MW, respectively, from photovoltaic (PV) panels. The East Blackland project began construction in August and is set to wrap up in July, while the Sunflower County project kicked off in February and is scheduled to be completed in June 2022. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed reports for the East Blackland and Sunflower County projects.
Texas ranks fourths among U.S. states in installed solar capacity, with more than 4 GW of capacity slated to be installed through the end of 2025, according to a recent report from Wood Mackenzie (Edinburgh, Scotland) and the Solar Energy Industries Association (Washington, D.C.).
Recurrent also heard some good news earlier this month from the U.S. Department of the Interior (Washington, D.C.), which approved the Crimson Solar Park in Blythe, California. The two-phase project is being developed by Recurrent and Sonoran West Holdings LLC (San Francisco, California) to generate a total of 450 megawatts (MW) for utility Southern California Edison, a subsidiary of Edison International (NYSE:EIX) (Rosemead, California). Subscribers can learn more from Industrial Info's project reports on Phase I and Phase II, and May 11, 2021, article - As Wildfires Loom, California's Edison Boasts More Durable Transmission, Rapid Decarbonization.
This summer, Canadian Solar expects to begin construction on Recurrent's $62 million Tranquillity Battery Storage project in Cantua Creek, California, a 72-MW battery-energy storage system (BESS) at the existing Tranquillity Solar Farm, and the $30 million Tilley Solar Plant near Tilley, Alberta, which is designed to generate 21 MW from 79,000 ground-mounted PV panels. Subscribers can learn more from Industrial Info's reports on the Tranquillity BESS and Tilley projects.
The Tranquillity BESS project is part of a broader buildout of Recurrent's Tranquillity solar complex. The subsidiary also is seeking permits for its proposed Scarlet Solar Project, which would be built nearby and share Tranquillity's substation. Recurrent envisions a 200-MW Solar Energy Center, which would have its output doubled by a second phase, and a 400-MW BESS project. These developments--which are in their early planning phases, where plenty of factors could alter or eliminate projected spending--would begin construction within the first half of 2022 and wrap up by the end of the year, as currently planned. Subscribers can read more details in Industrial Info's reports on the Solar Energy Center, its second phase and the BESS project.
Executives at Canadian Solar say the company is now integrating BESS into its solar project-development pipeline. The company has 1.2 gigawatt-hours (GWh) of battery-storage projects under construction and has doubled the battery-storage component of its project-development pipeline to 17 GWh. During the first quarter, Canadian Solar agreed to a strategic partnership with BESS developer Habitat Energy (Oxford, England), in which it will invest in the U.K.-based company and strengthen its own battery-storage capabilities.
"We nearly doubled our total storage project development pipeline and expect this positive momentum to continue, which should greatly enhance the value of our development pipeline," said Shawn Qu, the chief executive officer of Canadian Solar, in a quarterly press release. "We further strengthened our competitive position with our recent strategic partnership with Habitat Energy, which will leverage our global scale and platform, while helping us improve the software capabilities of our battery-storage projects."
In the press release, Canadian Solar said "the rapid growth of the energy-storage market is being driven by technology improvements, declining battery-storage costs, rising penetration of renewable energy and accelerating retirements of fossil-fuel capacity."
Canadian Solar presently has 3 megawatt-hours (MWh) of operational battery storage projects in North America.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
