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Energy & Power

Canadian Solar Inc.

Company Profile Analysis

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Canadian Solar Inc. - Energy & Power showcase

Year Founded & Workforce

Not available

Industry

Energy & Power

Services

C

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

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

DateApproachDevelopment
January 2019PartnershipCanadian 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 2018Contracts and AgreementCanadian 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 2018Contracts and AgreementRecurrent 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 2018Contracts and AgreementCanadian 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 2018Contracts and AgreementCanadian 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 2018Contracts and AgreementCanadian 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 2018ExpansionCanadian Solar launched its new business unit in San Francisco to deliver operation and maintenance services for utility-scale power plants.
September 2017Contracts and AgreementRecurrent 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 2017PartnershipCanadian 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 2017Contracts and AgreementCanadian 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-2020AcquisitionCanadian Solar announced the acquisition of 49% stake in two solar projects totaling 862 MWp in Brazil from Votorantim Energia.
July-2020PartnershipCanadian 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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About the Author

Wantstats Research Team

Wantstats' research desk profiles Canadian Solar Inc. as part of our ongoing coverage of the Energy & Power sector, drawing on public company data, filings, and market intelligence.

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I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
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R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Noah Malgeri
Noah Malgeri

Co-Founder, Mojave Rail Fabrication Limited

This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert

Manager, JavolVision

Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Joseph Aguayo

Sales Operations & Pricing Manager, Intel

Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau

Sales Leader, Bamberg

We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Peter Groot Koerkamp

Account and Business Manager, EFS-Holland BV

Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Younghwan Choi

Senior Retail Manager, LG Chem

We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin

Management Consultant, Level 21

I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker

Group Product Manager HVAC & Fire Protection GMA, Rockwool

I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee

R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.

Canadian Solar Inc.

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