We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Canadian Solar (CSIQ) to Sell Funing County Power Projects
Read MoreHide Full Article
Canadian Solar Inc.’s (CSIQ - Free Report) wholly-owned subsidiary, CSI Solar Power (China) Inc. has signed a project sale agreement with Create Technology & Science Co., Ltd., a state-owned company in China.
Under the agreement, Canadian Solar will sell its operating solar projects in Funing County, Jiangsu Province, China. The sale consideration is expected to be worth around $32.8 million (RMB218.5 million).
This project sale agreement will come into effect once Create Technology & Science gets an approval from its board of directors and from the State-owned Assets Supervision and Administration Commission of the State Council (SASAC).
However, Canadian Solar has kept the details of the projects and their total capacity under wraps.
According to Chairman and Chief Executive Officer of Canadian Solar, Dr. Shawn Qu, the latest agreement will help the company to “continue to monetize its high quality solar power plant assets in China, recycle out capital and strengthen our balance sheet”.
Note that Create Technology & Science primarily produces specialty instruments and apparatus. The company’s products are distributed in the domestic market as well as overseas.
Canadian Solar caters to a geographically diverse customer base spread across key markets in the U.S., Canada and Europe, as well as emerging markets in South Korea, Singapore and Brazil. The company has shipped more than 14 gigawatts (“GW”) of finest quality modules in over 90 countries throughout the globe in the last 14 years.
Asia is expected to be a big solar market in the near future, with Japan, India and China primarily driving demand. Asia contributed 44.4% to Canadian Solar’s net revenue in the first quarter of 2016, up significantly from 32.9% in the year-ago quarter.
The company currently has a Zacks Rank #2 (Buy).
Other Stocks to Consider
Some other favorably placed stocks in the solar industry include Yingli Green Energy Holding Co. Ltd. , ReneSola Ltd (SOL - Free Report) and 8point3 Energy Partners LP , each sporting a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Canadian Solar (CSIQ) to Sell Funing County Power Projects
Canadian Solar Inc.’s (CSIQ - Free Report) wholly-owned subsidiary, CSI Solar Power (China) Inc. has signed a project sale agreement with Create Technology & Science Co., Ltd., a state-owned company in China.
Under the agreement, Canadian Solar will sell its operating solar projects in Funing County, Jiangsu Province, China. The sale consideration is expected to be worth around $32.8 million (RMB218.5 million).
This project sale agreement will come into effect once Create Technology & Science gets an approval from its board of directors and from the State-owned Assets Supervision and Administration Commission of the State Council (SASAC).
CANADIAN SOLAR Price
CANADIAN SOLAR Price | CANADIAN SOLAR Quote
However, Canadian Solar has kept the details of the projects and their total capacity under wraps.
According to Chairman and Chief Executive Officer of Canadian Solar, Dr. Shawn Qu, the latest agreement will help the company to “continue to monetize its high quality solar power plant assets in China, recycle out capital and strengthen our balance sheet”.
Note that Create Technology & Science primarily produces specialty instruments and apparatus. The company’s products are distributed in the domestic market as well as overseas.
Canadian Solar caters to a geographically diverse customer base spread across key markets in the U.S., Canada and Europe, as well as emerging markets in South Korea, Singapore and Brazil. The company has shipped more than 14 gigawatts (“GW”) of finest quality modules in over 90 countries throughout the globe in the last 14 years.
Asia is expected to be a big solar market in the near future, with Japan, India and China primarily driving demand. Asia contributed 44.4% to Canadian Solar’s net revenue in the first quarter of 2016, up significantly from 32.9% in the year-ago quarter.
The company currently has a Zacks Rank #2 (Buy).
Other Stocks to Consider
Some other favorably placed stocks in the solar industry include Yingli Green Energy Holding Co. Ltd. , ReneSola Ltd (SOL - Free Report) and 8point3 Energy Partners LP , each sporting a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>