Canadian Solar ships 6.1 GW of modules in Q1 – pv magazine International
Canadian Photo voltaic shipped 6.1 GW of photo voltaic panels within the first three months of this yr, up 68% from the primary quarter of 2022.
From pv journal USA
Canadian Photo voltaic, a China-based built-in photo voltaic producer and power storage methods distributor, achieved a record-breaking 6.1 GW of photo voltaic module shipments within the first quarter of 2023, marking a 68% improve in comparison with the three.63 GW shipped. within the first quarter of 2022.
The corporate manufactures photo voltaic modules in Canada, China, Indonesia, Vietnam, and Brazil. Within the first quarter of 2023, it reported web revenue of $1.7 billion, representing 36% year-over-year development from $1.25 billion final yr. These outcomes are consistent with the current steerage vary of $1.6 billion to $1.8 billion for the primary quarter of 2023.
“We began the yr robust with 36% year-over-year income development and a 750% improve in diluted earnings per share,” stated Dr. Shawn Qu, chairman and chief govt officer of Canadian Photo voltaic. “We proceed to leverage our premium model to seize further photo voltaic and battery storage alternatives, whereas laying the groundwork for future success with strategic capability growth.”
The group’s unit CSI Photo voltaic plans to checklist greater than 540 million shares on the Science and Know-how Innovation Board, an index of the Shanghai Inventory Change. The first residential storage and inverter enterprise is reportedly near finishing its preliminary public providing by the top of the second quarter of 2023.
“We stay targeted on worthwhile development and proceed to optimize our value construction via vertical integration,” Qu stated. “With the upcoming IPO of our CSI Photo voltaic subsidiary, we’ve got a brand new platform to boost funding capital and additional strengthen our main place in photo voltaic and battery storage manufacturing.”
Recurrent Power, the undertaking improvement enterprise of the mixed firm, operates a worldwide undertaking improvement pipeline of 24.6 GW, which incorporates 1.7 GW in building initiatives, 17.7 GW in early to mid-stage initiatives, and 5.2 GW of backlog initiatives.
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