CSIQ Deal Aids Solar Project Funding
by Zacks Equity ResearchSeptember 12, 2012 | Comments : 0 Recommended this article: (0)
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Solar cell manufacturer Canadian Solar Inc. (CSIQ) has taken initiatives to assist its customers for the smooth completion of solar projects in the US. A major obstacle to the proper and timely completion of big commercial solar projects is inadequate financing. To remove this stumbling block Canadian Solar has collaborated with global financing solutions provider De Lage Landen Financial Services, Inc. (“DLL”).
Per the collaboration, De Lage Landen Financial Services will provide the necessary financial assistance to Canadian Solar’s customers to complete solar energy instillations. The finance company will provide lucrative financing options, which includes up to 100% financing of a total project's cost for qualified end-users, along with favorable terms of up to 120 days on purchases for its commercial installer and solar developer partners.
We believe this initiative to provide financial assistance to the user will encourage further development of solar projects in the country. Development and increasing use of alternate sources of energy go well with the long-term agenda of most of the states in the U.S.
At present, 30 U.S. states and the State of Columbia have enforceable renewable portfolio standards or other renewable generation policies. These policies were designed to spread awareness and encourage the power generators to produce more from renewables.
The share of renewable fuels (including conventional hydro) in energy generation is projected to grow from 10% in 2010 to 16% in 2035, as per the U.S. Energy Information Administration’s ("EIA") long-term outlook. We believe solar energy will also play an important part in the power generation process.
The present initiative on part of Canadian Solar is particularly pertinent at a time when struggling economies around the globe are thinking about a roll-back of solar subsidy. Not only will Canadian Solar customers, constructing solar farms, be assured of the quality of the solar cells, the necessary financing for these capital-intensive projects will also be taken care of.
Canadian Solar retains a Zacks #4 Rank (Sell rating). The company competes with First Solar Inc. (FSLR) and SunPower Corporation (SPWR).
Based in Ontario, Canada, Canadian Solar, together with its subsidiaries, engages in the design, development, manufacture and marketing of solar cell and solar module products that convert sunlight into electricity for various domestic and international uses. With a market capitalization of $126 million, the company presently has 9,087 full time employees.
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