The solar manufacturer and developer was racing to sell off a significant chunk of its late-stage portfolio by the end of last month to rebound after assuring investors the losses registered in the first quarter of this year would prove to be a one-off.
Talk of ‘grid-parity’ and ‘subsidy-free’ solar has had industry figures cherishing the ideal of a sector that can operate free of the caprices of government but a peer behind the latest global PV funding figures demonstrates just how dependent on policy the solar industry remains.
The modules will be used by U.K. developer Solarcentury for its Cabrera and Talayuela Solar projects in southern Spain.
With figures at the end of last year boosted by profitable PV project sales, the manufacturer and developer is now nursing unflattering comparisons and aims to get more projects built and sold by the end of next month.
The 1.8 GW supply deal is the largest in Canadian Solar’s history and includes the company’s new BiHiKu high-efficiency bifacial modules.
Big names in the running for 45-55 MW project in Chittagong as developers scramble to take advantage of an income tax exemption for clean energy investment that is due to expire this year.
The Chinese-Canadian manufacturer has revealed that it has finalized a $50 million term loan from Credit Suisse. It plans to use the loan to fund the expansion of its global PV project pipeline.
The Chinese-Canadian business has extended and expanded its credit line to finance more solar development in Japan despite plunging FIT rates and other obstacles affecting the market.
There are four PV projects and all the facilities will use bifacial panels provided by the Brazilian factory of the Chinese-Canadian manufacturer.
Canadian Solar recorded net income of $237.1 million in 2018, from $99.6 million a year earlier, on annual PV module shipments of 6.62 GW.
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