The contracts are expected to be serviced by both its upcoming Texas factory and its expanded Thailand module factory.
Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) announced today that it has successfully finalized approximately 4 GWp of solar module contracts during the 2023 RE+ show in Las Vegas. The contracts are expected to be serviced by both its upcoming Texas factory and its expanded Thailand module factory.
"Our cost competitive TOPBiHiKu7 bifacial TOPCon module has received overwhelmingly positive market response as it gives project developers, EPC customers and investors the secure and long-term module supply they have been looking for. We are pleased to be the partner of choice for multiple key stakeholders," said Dr. Shawn Qu, Chairman and CEO of Canadian Solar.
In addition, the newly launched EP Cube Lite also received a positive market response, resulting in hundreds of new system orders during RE+. These orders include both stand-alone residential storage systems as well as full residential PV plus storage system packages, including high efficiency Canadian Solar residential PV modules.
The EP Cube Lite allows homeowners to lower their electricity bills by shifting the use of lower-cost daytime energy to the evening when rates are typically higher.
"Canadian Solar is one of the few companies capable providing a fully integrated, self-developed and self-manufactured PV module and energy storage system solutions for residential, commercial and utility scale applications. This gives us a significant competitive advantage over many single component offerings in the market," added Dr. Qu.
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 22 years, Canadian Solar has successfully delivered over 102 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built, and connected over 9 GWp of solar power projects and over 3 GWh of battery storage projects across the world. Currently, the Company has approximately 700 MWp of solar power projects in operation, 8 GWp of projects under construction or in backlog (late-stage), and an additional 17 GWp of projects in advanced and early-stage pipeline. In addition, the Company has a total battery storage project development pipeline of 52 GWh, including approximately 2 GWh under construction or in backlog, and an additional 50 GWh at advanced and early-stage development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.