CSIQ - Canadian Solar set to double panel production capacity by next year

2023-04-11 09:56:50 ET

Canadian Solar ( NASDAQ: CSIQ ) said Tuesday its CSI Solar subsidiary plans to increase manufacturing within the next year, doubling its panel-making capacity and tripling its cell production.

The company said it expects to boost solar module production to as much as 75 GW/year by March 2024 from capacity of 32.2 GW/year in December 2022, while cell capacity is seen growing to 60 GW/year from 19.8 GW at the end of 2022.

On Monday, Canadian Solar ( CSIQ ) said it consolidated its global solar development and services business under its Recurrent Energy brand, which previously was 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 pipeline.

Canadian Solar ( CSIQ ) has more upside ahead due to its attractive valuation paired with robust earnings increases ahead, Mike Zaccardi writes in an analysis published recently on Seeking Alpha .

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