Profile: Canadian Solar Inc (CSIQ.O)

CSIQ.O on Nasdaq

16 Sep 2019
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Canadian Solar Inc., incorporated on June 1, 2006, is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. The Company's segments include module segment, energy development segment and electricity generation segment. The Company designs, develops and manufactures solar wafers, solar cells and solar power products. The module segment primarily involves the design, development, manufacturing and sale of a range of solar power products, including standard solar modules and specialty solar products, and solar system kits. Its energy development segment consists of solar power project development, engineering, procurement and construction (EPC) services, and operation and maintenance (O&M) services. Its electricity generation segment consists of holding solar power projects for the purpose of generating income from the sale of electricity. Its products include a range of solar modules for use in residential, commercial and industrial solar power generation systems. The Company sells its products primarily under Canadian Solar brand name.

Module Segment

The Company's standard solar modules are arrays of interconnected solar cells in weatherproof encapsulation. It produces a range of standard solar modules, ranging from 3 watts to 335 watts in power and using multi-crystalline or mono-crystalline cells in various design patterns. The Company's mainstream solar modules include standard CS6V (50 cells), CS6P/CS6K (60 cells), CS6X/CS6XA (72 cells), Dymond CS6K-P-PG (60 cells, double-glass) and Dymond CS6X-P-FG (72 cells, double-glass) modules, in which six inch solar wafers are used with multi-crystalline wafers. The mainstream modules are designed for residential, commercial and utility applications. Small modules are for specialty applications. The Company develops solar power projects primarily in Canada, Japan, the United States, China, Brazil and the United Kingdom. Its specialty solar products consist of solar modules that the customers incorporate into their own products and complete specialty products, such as portable solar home systems.

The Company's specialty solar products include Andes Solar Home System (Andes SHS) and Maple Solar System (Maple SS). Andes SHS is an off-grid solar system, designed to provide a source of electricity to homes and communities without access to grid electricity or where electricity supply is scarce. Maple SS is an energy solution for families burning kerosene for lighting when darkness falls. It is a mobile power source for outdoor activities, such as camping, boating and hiking. Maple SS includes a solar panel, light emitting diode (LED) lights, Lithium-ion batteries and multiple cell phone charger plugs. The Company offers O&M services, which include inspections, repair and replacement of plant equipment, site management and administrative support services. The Company operates certain project assets in China for the purpose of generating income from the sale of electricity. The Company offers solar system kits. A solar system kit is a ready-to-install package consisting of solar modules produced by the Company and components, such as inverters, racking system and other accessories, supplied by third parties. The Company sells solar system kits primarily to customers in Japan and Europe.

Energy Development Segment

The Company develops, builds and sells solar power projects. Its global solar power project business develops projects primarily in Canada, Japan, the United States, China, Brazil and the United Kingdom. It specializes in project development, evaluations, system designs, engineering, managing, project coordination and organizing financing. Its EPC services include engineering, procurement and construction work for solar power projects owned either by the Company or by third-parties. It provides EPC services for over 153.5 megawatts of solar projects in Canada, China and Australia. The EPC services in China are provided through Suzhou Gaochuangte New Energy Sources Development Co., Ltd. (Gaochuangte). It provides O&M services for solar power projects in commercial operation.

Electricity Generation Segment

The Company operates and maintains its solar power projects in the United Kingdom, the United States, Canada, China, Japan and Spain. The Company has a fleet of solar power plants in operation with an aggregate capacity of approximately 398.1 megawatt peak (MWp). It holds solar power projects for the purpose of generating and selling electricity to the local or national grid or other power purchasers.

The Company competes with First Solar, Inc., SunPower Corporation, Hanwha Q Cells Co., Ltd., Trina Solar Limited, JA Solar Co., Limited and JinkoSolar Holding Co., Limited.

Company Address

Canadian Solar Inc

West Guelph, 545 Speedvale Ave W
P: +1519.8371881

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