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Canadian Solar Power (NASDAQ:CSIQ) said on Tuesday that its subsidiary CSI Solar plans to ramp up manufacturing over the next year, doubling its panel-making capacity and tripling its cell output.
The company said it hopes to push the solar module production to 75 GW/year in March 2024 from a capacity of 32.2 GW/year in December 2022, while cell capacity is expected to grow to 60 GW/year from 19.8 GW by the end of 2022.
On Monday, Canadian Solar (CSIQ) said it has consolidated its global solar development and services business under its Recurrent Energy brand, which was previously limited to its North American operations.
Recurrent Energy’s portfolio now comprises nearly 9 GW of solar and 3 GWh of battery storage across six continents, with an additional 25 GWp of solar and 47 GWh of battery storage in its portfolio.
Canadian Solar (CSIQ) has further upside potential ahead due to its attractive valuation combined with strong earnings growth ahead, Mike Zaccardi writes in an analysis recently published in Seeking Alpha.