Canadian Solar completes first phase of ingot/wafer plant, sticks by 2009 guidance


Canadian Solar said it has completed and commissioned Phase I of its ingot and wafer plant on schedule. The new production capacity gives the company an annualized ingot and wafer capacity of 60 MW. CSI expects to complete the second phase of its ingot plant by year-end, ahead of the original schedule, which will bring the company’s ingot and wafer capacity to between 150 and 200 MW.

The company also said that its 250-MW Phase II cell plant will be completed in October, with the next stage set to begin immediately thereafter. CSI’s current annualized capacity has reached 220 MW and should meet its 400-MW target by the end of December, also ahead of schedule.

Both new plants, located in Jiangsu, China, are fully financed and fully supplied with both wafer and feedstock for the fourth quarter, according to the company, which will enable the production of 45-50 MW of polysilicon cells and upgraded metallurgical grade (UMG) e-Cells internally. This will be supplemented by solar cells supplied from the company’s long-term suppliers at competitive prices.

In light of these recent developments, the CSI has reiterated its 2008 top-line revenue and gross margin guidance of $850 million-$970 million and 13-15%, respectively.

CSI also said that it believes it has secured approximately 4000 metric tons of UMG for 2009, enabling it to produce between 250 and 300 MW of UMG e-cells and e-Modules in 2009. As a result, the company has reiterated its 2009 shipment and gross margin guidance of 500-550 MW and 13-15%, respectively.

“Demand remains high for both our regular high-efficiency modules and our proprietary e-Module products,” said company chairman/CEO Shawn Qu. “Average selling prices are expected to remain stable for the balance of the year and the raw material prices have begun to ease. The increased internal production capacity in Q4 will contribute meaningfully to our gross margins and will help us to reach our revenue and margin targets, in spite of volatility in the Euro. “

Our highly flexible vertical integration model is robust and has allowed us to quickly adopt to the market dynamics. We expect to be able to continue to meet our objectives for 2009 and are cautiously optimistic that there is upside potential in our ’09 estimates,” concluded Qu.

In a recent move by CSI to bolster its materials supply chain, the vertically integrated solar manufacturer signed long-term deals with GCL Silicon for 510 metric tons of polysilicon feedstock and 1.8 GW of wafers.

— Tom Cheyney

27 September 2022
The demand for rooftop solar PV is soaring, driven by falling costs of the technology against energy crises that are gripping countries globally. But while an increasing number of households turn to solar to generate their own electricity, there is now a need for more specialist equipment, technologies and services to ensure the solar transition can reach as many customers as possible. Delivering these is now a major challenge for rooftop solar installers. This webinar will analyse the characteristics of the rooftop solar market, discussing how the products, logistics, installation and servicing of solar systems has evolved in line with consumer demands.
4 October 2022
Solar & Storage Finance USA, the only event that connects developers to capital and capital to solar and storage projects, will be back in November 2022.
11 October 2022
RE+ Florida returns in 2022. Solar & Energy Storage Florida is now RE+ Florida! This premier event for the Sunshine State will return October 11-12, 2022 in Miami.
11 October 2022
PV CellTech Extra will be held as a series of live webinars and on-demand sessions on 11-13 October 2022. We'll be taking a slightly further forward-looking view at the technologies and roadmaps for new cell architectures set to dominate mass production during 2023-2025 with special emphasis on the potential timelines for technologies beyond the single-junction cell design, including perovskite and hybrid concepts.
13 October 2022
The 2022 ACORE Grid Forum is a one-day event that convenes regulators, renewable, storage and transmission companies, and other leading grid experts in Washington, D.C. Speakers will examine the roles of administrative orders and actions, infrastructure policy, regional and state developments, and private sector strategies on the path to a carbon-free grid.
18 October 2022
The solar, storage and EV industries in the UK are going from strength to strength. There is no better place for the community to meet, share ideas and do business than Solar & Storage Live from 18-20 October at the NEC. There’s something for everyone; more than 150 exhibitors, a high-level conference, a start up and innovation zone, a poster zone, strategic partners to network with and much more. 

Read Next

September 27, 2022
Nearly a third of all renewable technologies employment came from the solar PV industry in 2021, according to a new report from the IRENA.
September 27, 2022
Greek developer Mytilineos has completed third-party engineering, procurement and construction (EPC) contracts on a backlog of solar PV projects in Chile, Uzbekistan and Spain.
PV Tech Premium
September 27, 2022
Europe must build out its own large-scale, vertically integrated solar PV manufacturing base as a means to ensure its clean energy transition.
September 27, 2022
Module manufacturer Boviet Solar has secured an 861MW supply agreement with US renewables developer Vesper Energy.
September 27, 2022
The European Technology and Innovation Platform for Photovoltaics (ETIP PV) has been relaunched to advise policymakers and promote the uptake of solar across Europe.
September 27, 2022
Tongwei has announced plans to sign an investment agreement to develop a 25GW high-efficiency PV module manufacturing base in China

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 27, 2022
15:30 AEST (UTC +10)
Solar Media Events
October 4, 2022
New York, USA
On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)