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Canadian Solar (CSIQ) Unit Brings Mustang Project Online
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Canadian Solar Inc.’s (CSIQ - Free Report) wholly owned subsidiary, Recurrent Energy, has initiated commercial operation of the 100-megawatt (MW) ac Mustang solar power project, located in central California.
In Sep 2015, Recurrent Energy received a tax equity investment commitment from U.S. Bancorp Community Development Corporation (“USBCDC”) for the project.
The Mustang project, located in Kings County, CA, is spread across an area of 1000 acres. Blattner Energy provided engineering, procurement and construction (EPC) services for the project. Construction began last year, creating 450 jobs at its peak.
The project is expected to generate enough electricity to power approximately 45,000 homes. Power generated by the facility will be sold under long-term power purchase agreements to Sonoma Clean Power and Marin Clean Energy in the Bay Area.
According to Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, 2016 will be a “historic year” as Recurrent Energy plans to complete over one gigawatt of U.S. solar photovoltaic (PV) projects in U.S.
Recently, Canadian Solar reported second-quarter results, wherein earnings and revenues surpassed the Zacks Consensus Estimate by a respective 70% and 13.3%. Both the top and bottom line were also up from the year-ago figure by 119.4% and 26.6%. Solar module shipments surpassed expectations in the reporeted quarter and recorded 59.5% year-over-year growth.
Zacks Rank & Key Picks
Canadian Solar currently has a Zacks Rank #5 (Strong Sell). Sunrun Inc. (RUN - Free Report) , Sunworks, Inc. and Vivint Solar, Inc. are better-ranked stocks in the solar industry. While Sunrun sports a Zacks Rank #1 (Strong Buy), both Sunworks and Vivint Solar carry a Zacks Rank #2 (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 >>
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Canadian Solar (CSIQ) Unit Brings Mustang Project Online
Canadian Solar Inc.’s (CSIQ - Free Report) wholly owned subsidiary, Recurrent Energy, has initiated commercial operation of the 100-megawatt (MW) ac Mustang solar power project, located in central California.
In Sep 2015, Recurrent Energy received a tax equity investment commitment from U.S. Bancorp Community Development Corporation (“USBCDC”) for the project.
The Mustang project, located in Kings County, CA, is spread across an area of 1000 acres. Blattner Energy provided engineering, procurement and construction (EPC) services for the project. Construction began last year, creating 450 jobs at its peak.
The project is expected to generate enough electricity to power approximately 45,000 homes. Power generated by the facility will be sold under long-term power purchase agreements to Sonoma Clean Power and Marin Clean Energy in the Bay Area.
CANADIAN SOLAR Price
CANADIAN SOLAR Price | CANADIAN SOLAR Quote
According to Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, 2016 will be a “historic year” as Recurrent Energy plans to complete over one gigawatt of U.S. solar photovoltaic (PV) projects in U.S.
Recently, Canadian Solar reported second-quarter results, wherein earnings and revenues surpassed the Zacks Consensus Estimate by a respective 70% and 13.3%. Both the top and bottom line were also up from the year-ago figure by 119.4% and 26.6%. Solar module shipments surpassed expectations in the reporeted quarter and recorded 59.5% year-over-year growth.
Zacks Rank & Key Picks
Canadian Solar currently has a Zacks Rank #5 (Strong Sell). Sunrun Inc. (RUN - Free Report) , Sunworks, Inc. and Vivint Solar, Inc. are better-ranked stocks in the solar industry. While Sunrun sports a Zacks Rank #1 (Strong Buy), both Sunworks and Vivint Solar carry a Zacks Rank #2 (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 >>