Canadian Photo voltaic expects to start out delivery the primary TOPCon merchandise early subsequent yr and can concentrate on the know-how sooner or later with all new cell manufacturing capability.
N-type TOPCon is anticipated to account for a 3rd of whole photo voltaic module shipments of the corporate in 2023, in response to Yan Zhuang, president of CSI Photo voltaic, the manufacturing subsidiary.
The corporate shipped 6GW of modules throughout the third quarter of the yr, growing by 62% on leads to the corresponding quarter of 2021.
Module shipments for Q3 2022 alone was larger than the entire of 2016, as proven within the chart beneath, and improves on the greater than 5GW shipped within the earlier quarter.
The corporate has disclosed its outlook guideline for module shipments in 2023 to be between 30-35GW, a 56% development year-on-year on the mid-point of the vary.
In This fall 2022 the corporate’s manufacturing division expects to ship between 6-6.3GW of modules and revenues for Canadian Photo voltaic to be within the vary of US$1.8-1.9 billion.
The highest 5 markets for Q3 2022 have been China, the US, Brazil, Spain and Germany, whereas the corporate shipped modules to greater than 70 international locations.
Because the US stays one of many core markets for the corporate, Canadian Photo voltaic has began the method to pick out a website for its manufacturing facility that would help as much as 5GW of module capability within the long-term, in response to Zhuang.
Throughout Q3 2022 the corporate had a internet income of US$1.93 billion, up 57% from the corresponding quarter in 2021, primarily pushed by a rise in module shipments and the typical promoting worth (ASP).
Nonetheless, income was down 16% quarter-over-quarter because of decrease income from tasks gross sales and battery storage options and a decline in ASP that was offset by an elevated quantity of module shipments.
Shawn Qu, chairman and CEO at Canadian Photo voltaic, mentioned: “World demand stays very sturdy and former provide chain and value headwinds are bettering with decrease enter and logistics prices. We nonetheless face near-term challenges with volatility in overseas change charges, which we’re carefully monitoring and can proceed to take acceptable actions to mitigate the influence.”
In the meantime in China, the corporate’s IPO to be listed on the Shanghai Inventory Alternate has but to obtain a beneficial reply. The IPO is carefully tied to the US$9 billion polysilicon growth the corporate is planning to spend money on for the approaching years, in response to Qu.
Furthermore, the corporate expects polysilicon costs to have reached their peak with enter prices to start out lowering over the approaching weeks, mentioned Yan Zhuang, president of CSI Photo voltaic, the manufacturing subsidiary, including that advantages from it is not going to occur till subsequent yr.
The manufacturing subsidiary, CSI Photo voltaic, continues to extend its battery storage pipeline which greater than doubled to 25GWh on the finish of Q3 2022, with a number of tasks throughout the US – with a 2.6GWh supply order from UBS Asset Administration introduced simply yesterday – and Europe and launched two new merchandise aimed on the utility-scale and residential markets.
Final September, Canadian Photo voltaic revealed it was behind the corporate Zapaleri that acquired a profitable 253MWp bid in Chile’s newest public sale whereas this month the corporate inaugurated a 100MW photo voltaic plant in Fukushima, Japan.
Convention name transcript from Searching for Alpha.