Canadian Solar Inc.

Canadian Solar Inc. Overview

Canadian Solar Inc. (Canadian Solar) operates in 20 countries, worldwide. The company’s major operations are in India, with over 1 GW of premium and high-efficiency solar modules spread across the country. Some of its subsidiaries include Canadian Solar South Africa Pty. Ltd., Recurrent Energy, LLC, and SpectraWatt Inc. The company has manufacturing facilities in Canada, Brazil, China, and South East Asian Countries. The company has its expert team which is specialized in system design, project debelopment, engineering and financing of the project. Additionally, the company handles deployment pf photovoltaic project system from commercial system to few hundred kilowatts to utility scale solar projects across the world in faster and efficient manner. The company’s solar modules work efficiently in both, hot and humid desert regions and coastal regions. Canadian Solar has more than 26 GW cumulative shipments of solar panels and filed more than 1,000 patents.

The company offers products, such as solar panels, energy solutions, off-grid applications, and PV energy storage.

Strategy

Canadian Solar focuses on partnerships and service collaboration with leading world solar power plant contractors and government authorities. The company is dedicated to improve customer service and has customer support desks in over 20 countries, which helps to enhances its customer base and gaining the market share. It is engaged in product development with its modern manufacturing and research facilities.

Company Snapshot

$3,200.6M

Revenue

2001

Founded

Guelph, Canada

Headquarters

SWOT Analysis

Strengths

Diverse products
Huge customer base
Huge investment in solar project development and R&D
Diverse product line
Vertically integrated business model with strong supply chain management capabilities.
Extensive global presence and diversified customer base.

Weaknesses

Less exposure in European region
Uncertainty of being able to sell the projects
Dependence on key markets, including China and the United States.
Vulnerability to fluctuations in solar panel prices.

Opportunities

Focus on expansion in emerging markets
Focus on reducing manufacturing costs
Focus on expanding in Europe and emerging markets
Focus on reducing manufacturing cost
Growing demand for renewable energy, particularly in emerging markets.
Expansion of the energy storage market.
Development of new solar panel technologies.

Threats

Long-term supply agreements affects raw material costing
Delays or denial of approvals, permits or licenses by government authorities
Highly competitive & quickly evolving market
Intense competition from larger, more established players in the solar industry.
Changes in government policies and regulations affecting the solar industry.
Fluctuations in supply and demand leading to volatility in solar panel prices.

Key Developments

Date	Approach	Development
January 2019	Partnership	Canadian Solar partnered with Signal Energy to provide Engineering, Procurement, and Constructions (EPC) services and supply solar modules for the 333 MWp/275 MWac Darlington Point solar farm in New South Wales, Australia.
December 2018	Contracts and Agreement	Canadian Solar and TrailStone GmbH, a global commodity trader, entered into a 10-year power purchase agreement for electricity produced by the 17.6 MWp solar PV plant in Sicily, Italy.
December 2018	Contracts and Agreement	Recurrent Energy LLC, a wholly owned subsidiary of Canadian Solar, signed a power purchase agreement for the 63 MWac/88 MWp Stanford Solar Generating Station #2, which is spread across a 400 acres area in Kings County, California.
August 2018	Contracts and Agreement	Canadian Solar announced a USD 45 million agreement with Natixis, a BPCE banking group in France, to construct the company’s 68 MW solar power project in Aguascalientes, Mexico. The project is expected to fulfill the demand of approximately 60,000 local homes.
May 2018	Contracts and Agreement	Canadian Solar started its 35 MWp commercial and industrial (C&I) solar project in Karnataka, India. It is expected to generate approximately 54,000 MWh solar power energy, every year.
May 2018	Contracts and Agreement	Canadian Solar announced that it would develop an 8 MWp solar photovoltaic project in Gangwon Province, South Korea. The construction will start in early 2019.
March 2018	Expansion	Canadian Solar launched its new business unit in San Francisco to deliver operation and maintenance services for utility-scale power plants.
September 2017	Contracts and Agreement	Recurrent Energy LLC, a wholly owned subsidiary of Canadian Solar, signed a 15-year power purchase agreement with Peninsula Clean Energy for new 100 MW solar projects.
August 2017	Partnership	Canadian Solar and EDF Energies Nouvelles, a renewable energy company, announced their partnership in the 92.5 MWp Pirapora III photovoltaic project in Brazil. Canadian Solar will supply 380 MWp modules.
March 2017	Contracts and Agreement	Canadian Solar secured the purchase agreement of 80 MWac of solar power projects with the Solar Energy Corporation of India (SECI), a Government of India (GoI) body.
June-2020	Acquisition	Canadian Solar announced the acquisition of 49% stake in two solar projects totaling 862 MWp in Brazil from Votorantim Energia.
July-2020	Partnership	Canadian Solar announced a partnership with IKEA Canada to install solar panels at four IKEA stores in Ontario.

Product Offering

Canadian Solar Inc.
- Ku Modules
- Dymond Panels
- SuperPower Panels
- MaxPower Panels
- All-Black Panels
- All-Black Panels

Financial Performance

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