Canadian Solar Develops Texas, California Projects

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Researched by Industrial Info Resources (Sugar Land, Texas)--Canadian Solar Incorporated (NASDAQ:CSIQ) (Guelph, Ontario) is developing large solar power projects in Texas and California, as well as other parts of the world, including Brazil and Australia, as the company grows its solar cell manufacturing capacity in China. Discussing the company's global footprint in a conference call, Chief Executive Officer Shawn Qu said, "We continue to expect approximately 1 to 1.2 gigawatts of new solar projects globally in 2017. These projects are located in the U.S., Japan, China, U.K., India, Brazil and Africa. ...The U.S. market is an important market for Canadian Solar for both solar module sales and project development." Industrial Info is tracking $4.85 billion of projects belonging to Canadian Solar.

Canadian Solar's late-stage solar projects pipeline totals approximately 2.16 gigawatts (GW), while the company's plants in operation totals 1.15 GW. "The North American projects, including Central American projects, are quite well received because Canada, the U.S. and Mexico are considered very good investments," said Qu.

In the U.S., Industrial Info is tracking several planned projects in Texas and California being developed by Canadian Solar's wholly owned subsidiary Recurrent Energy (San Francisco, California). In Texas, the company is developing two solar projects near Sheffield, in West Texas. The 150-megawatt (MW) RE Palmwood solar project is planned to kick off in early 2018 with commercial operations planned by the end of that year. A second and third phase of the project are in the early planning stages and could add 150 MW and 100 MW, respectively. Moak, Casey & Associates (Austin, Texas) is acting as a consultant on the project. For more information, see Industrial Info's project reports on Phase I, Phase II and Phase III of the project.

Also near Sheffield is the planned 100-MW RE Monument solar project. The project remains in the early planning stages, but has an anticipated kickoff date in the first quarter of 2018, with completion set for the end of that year. For more information, see Industrial Info's project report.

Industrial Info is tracking 840 MW of Canadian Solar development in California. At the Lemoore Naval Air Station in Kings County, California, Canadian Solar is in the late planning stages for a 195-MW solar project. A second phase could add another 195 MW. The first phase of the project is planned to kick off in summer 2018. For more information, see Industrial Info's project reports on Phase I and Phase II of the project.

The two-phase Crimson solar project near Blythe in Riverside County, California, could add up to 450 MW of renewable energy to the grid. The project will be built on 4,000 acres of public lands beginning in 2019. The facility could use a total of up to 6 million thin film or crystalline silicon panels. For more information, see Industrial Info's project reports on Phase I and Phase II.

Industrial Info also is tracking Canadian Solar power projects in Australia, Japan, Brazil, China and Mexico.

In addition to power plants, Canadian Solar also is establishing solar module manufacturing plants in China to take advantage of the country's lower labor and electricity rates. In Yangchen, the company plans to kick off construction of a solar cell factory that will develop 3 GW of photovoltaic solar cells per year. The project has an estimated total investment value of $441 million and is planned to kick off construction by the end of this year, with completion set by the end of 2018. For more information, see Industrial Info's project report. The facility will ship solar modules throughout the world. The company shipped 1,480 MW of solar modules in first-quarter 2017.

Canadian Solar's net revenue in the first quarter of 2017 was $677 million, compared with net revenue of $721.4 in first-quarter 2016.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 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. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.