Canadian Solar Inc. - Company Research Report
Company Overview
Name, Mission of the Company
- Name: Canadian Solar Inc.
- Mission: Power the world with solar energy and create a cleaner Earth for future generations.
Founding Information
- Founded: 2001
- Founded By: No information is available
Key People
- Chief Financial Officer: Canadian Solar recently announced the appointment of a new CFO.
Headquarters
- Location: 545 Speedvale Avenue West, Guelph, Ontario, N1K 1E6, Canada
Number of Employees
- No information is available
Revenue
- No information is available
Company Recognition
- Known For: One of the world’s largest solar technology and renewable energy companies; a leading manufacturer of solar photovoltaic modules and developer of utility-scale solar power and battery energy storage projects.
Products
Main Segments
- CSI Solar:
- Involves solar module and battery energy storage manufacturing, and delivery of total system solutions including inverters, solar system kits, and EPC services.
Products Offered
Modules
- HiKu Series (HiKu7, HiKu6)
- High efficiency up to 21.6%
- Power ranges from 400W to 670W depending on models
- BiHiKu Series (BiHiKu7, BiHiKu6)
- Bifacial technology for more energy yield
- Power ranges from 520W to 665W
- TopBiHiKu Series (TopBiHiKu7, TopBiHiKu6)
- Advanced N-type TOPCon bifacial modules
- Power ranges from 490W to 725W
- Efficiency up to 23.3%
- All-Black Modules
- Designed for aesthetic residential rooftop installations
- Power range from 380W to 405W
Inverters
- Utility Inverters
- Three-Phase String Inverter 125 kW with max efficiency of 99.01%
- Commercial Inverters
- Power ranges offered: 15-25 kW, 40-60 kW, 75-120 kW
- Efficiency up to 98.7%
- Residential Inverters
- Single-Phase Inverters with power range from 5 kW to 9 kW
- Efficiency up to 98.01%
Energy Storage
- e-STORAGE
- Turnkey battery energy storage solutions for utility-scale use
- Long-term service agreements including future battery capacity augmentation
- KuBank
- Modular and flexible C&I Energy Storage System (C&I) with 247 kWh capacity
Recent Developments
New Product Launches
- e-STORAGE: Development of energy storage projects globally, such as the 200 MWh project in Southeastern Australia.
New Features and Projects
- Battery Technologies: Canadian Solar’s TOPCon bifacial modules showing less than 1% power degradation after a 2,000-hour damp heat test, confirming their reliability.
- High Output Modules: Development of PV technologies up to 725W in 2024, reducing the overall system and energy cost.
Partnerships
- Recurrent Energy (a subsidiary of Canadian Solar):
- €50 Million Loan from European Investment Bank for Italian Clean Energy Portfolio.
- Development Consent Order: 350MWp Mallard Pass Solar Farm in UK.
- 10-year Power Purchase Agreement (PPA): GKN Automotive for 115 MWp Rey I Project in Spain.
- $103 Million Tax Credit Agreement: With Bank of America for North Fork Solar Project.
Upcoming Events
- Intersolar North America: USA, San Diego (2024.01.17-19)
- RE+ Hawaii: USA, Honolulu (2024.01.2.20-23)
- Solar + Wind F & I Summit: USA, Phoenix (2024.03.10-13)
- SNEC: China, Shanghai (2024.06.13-15)
This report presents insights into Canadian Solar Inc., highlighting its mission, founding history, product offering, and recent strategic actions, underscoring its prominent position in the renewable energy market.
