Canadian Solar Inc. says a completely 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 Metropolis in Jiangsu Province, China, whereby CSI Photo voltaic 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 power manufacturing industrial park.
The challenge plan shall be carried out in three phases, with Section 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’re happy to broaden our manufacturing base within the newest high-efficiency photo voltaic and battery storage merchandise to raised help the sturdy demand wants of our prospects,” says Dr. Shawn Qu, chairman and CEO of Canadian Photo voltaic. “Our capability additions will additional improve our profitability in an setting of quickly declining upstream uncooked materials prices, and we’re dynamically adjusting our capability plans to account for a market backdrop with pockets of enormous provide in addition to pockets of tight provide relative to demand.”
Canadian Photo voltaic is without doubt one of the world’s largest photo voltaic expertise and renewable power corporations. Over the previous 21 years, the corporate has delivered roughly 82 GW of photo voltaic photovoltaic modules to prospects the world over. Canadian Photo voltaic has additionally developed, constructed and related over 7 GWp in over 20 international locations the world over.
