Canadian Solar experiences fire at solar cell plant in China

  •   A fire was reported to have occurred at a solar cell manufacturing line at Canadian Solar’s production facility in Suzhou, China
    A fire was reported to have occurred at a solar cell manufacturing line at Canadian Solar’s production facility in Suzhou, China. Image Canadian Solar

Financials

  • CSIQ
    NASDAQ
    29.26
    -1.59 (-5.15%)
    4:00PM EDT

A fire was reported to have occurred at a solar cell manufacturing line at Canadian Solar’s production facility in Suzhou, China according to Chinese websites and video footage.

Although the company has yet to officially announce the event, ROTH Capital financial analyst, Philip Shen told clients in a research note that the fire was said to have occurred on February 17 but had minimal impact and no employees were injured.

According to conversations with Canadian Solar IR representatives, ROTH Capital said that the fire was relatively small, occurring in the wafer chemical etch area for texturing the wafers before cell processing. Workshop area 3 (4 in total for the plant) was the centre of the fire.

According to the investor note production was restarted at workshops named 4 and 5 on the evening of February 20, while production restart at workshop 2 would be back at full capacity in the first week of March. 

However, where the fire occurred, that workshop area would to be back at 80% capacity within the next two months.

Any solar cell shortfalls would be covered by purchasing cells from other suppliers and would have very minimal impact on module shipments in the first quarter of 2014, according to the ROTH Capital report.
 

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