Dr. Shawn Qu
Canadian Solar Inc. says an entirely owned subsidiary of its majority-owned subsidiary CSI Solar Co. Ltd. has entered right into a multi-year funding settlement the municipal authorities of Yangzhou City in Jiangsu Province, China, whereby CSI Solar plans so as to add vertically built-in excessive effectivity wafer, cell, and module capability, in addition to battery system manufacturing capability, in Yangzhou’s clear energy manufacturing industrial park.
The challenge plan will likely be carried out in three phases, with Phase I being 14 GW of wafer and cell capability. For year-end 2023, the corporate anticipates totals of 20 GW of ingot, 35 GW of wafer, and 50 GW of cell and module capability.
“We are pleased to expand our manufacturing base in the latest high-efficiency solar and battery storage products to better support the strong demand needs of our customers,” says Dr. Shawn Qu, chairman and CEO of Canadian Solar. “Our capacity additions will further enhance our profitability in an environment of rapidly declining upstream raw material costs, and we are dynamically adjusting our capacity plans to account for a market backdrop with pockets of large supply as well as pockets of tight supply relative to demand.”
Canadian Solar is without doubt one of the world’s largest solar expertise and renewable energy firms. Over the previous 21 years, the corporate has delivered roughly 82 GW of solar photovoltaic modules to prospects the world over. Canadian Solar has additionally developed, constructed and linked over 7 GWp in over 20 nations the world over.
