Canadian Solar raises PV module shipment guidance, could surpass 300MW for year

Facebook
Twitter
LinkedIn
Reddit
Email

Canadian Solar says it expects to beat the high end of its prior guidance for module shipments for both the third-quarter and fiscal-year 2009 and will raise its projections for both periods. Annual shipments could be as much as 45MW above earlier guidance forecasts and surpass 300MW, the vertically integrated solar manufacturer states. 

Based on its selected unaudited financial results, Canadian Solar believes that its net revenues for the third quarter will be approximately $210 million to $215 million, with shipments of about 101-103MW, compared to prior guidance of approximately 90-100MW. The company says it expects a gross margin of 16% to 17% for the third quarter.

The company attributes a high level of interest in its crystalline-silicon-based products at the EU PSVEC trade show and subsequent purchase orders to part of the reason for the increase in its forecast.

It now sees FY09 shipments coming in between 295 and 305MW, including expected shipments of 127-137MW for the fourth quarter. This represents a significant increase compared to the prior guidance for shipments of approximately 260-270MW for the full year and earlier 2009 guidance of 200-220MW.

The company claims to be making continuous improvements in its cost structure, which it expects will positively impact ongoing profitability.

“Demand has continued to be strong among our core customer group as well as among new customers,” commented chairman/CEO Shawn Qu. “We anticipate that Q4 2009 will be even stronger than Q3 2009 in terms of shipments, and we expect to maintain similar gross margins. We plan to increase our solar-module manufacturing capacity to 1GW, our solar-cell capacity to 700MW, and our ingot and wafer capacity to 350MW by the end of 2010 to meet demand levels.”

Additional information related to the third quarter and full year will be available when Canadian Solar reports its Q3 2009 results on Nov. 24.

23 August 2022
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil, on August 23–25, 2022, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry. In 2021 – despite the Covid-19 pandemic – Intersolar South America welcomed more than 28,000 visitors and over 1,000 conference attendees over 3 days. 200+ providers showcased their products. Combining local and international expertise, Intersolar South America brings together the PV and solar thermal sector to discuss the current status and strategic trends for Latin American PV markets, as well as technology innovations and new business opportunities. Overall, distributed generation is still driving momentum in the Brazilian market. Get 10% off with code 38LCF6KN
6 September 2022
Intersolar Mexico sits at the cross-section of photovoltaics, solar heating & cooling technologies, and energy storage. The event serves as the industry’s go-to source for invaluable technology trends and premier B2B contacts in the promising Mexican solar market. From September 6–8, 2022 Intersolar Mexico together with the co-located The GREEN Expo® and Aquatech Mexico will take place in Centro Citibanamex, Mexico City.
7 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.
14 September 2022
Join us in London for 2 days as we look at the UK’s new landscape for utility & rooftop solar. Understand the new opportunities within this GW-plus annual market!
15 September 2022
Bifacial PV modules will be the dominant solar PV technology globally within one or two years; in the utility-scale sector, their market share is already above 70%. This webinar will provide a clear view on the successful implementation of bifacial technology, maximizing system performance and minimising LCoE.
19 September 2022
RE+ 2022 is the umbrella event that includes SPI, ESI, RE+ Power, and RE+ Infrastructure. As North America's largest renewable energy event, it's a catalyst for industry innovation that's supercharging business growth in the clean energy economy.

Read Next

August 10, 2022
Canadian Solar plans to build an integrated PV manufacturing plant in Western China, with a capacity of 200,000MT of high-purity polysilicon, 10GW of both cells and modules and multi-GW productions of raw and auxiliary materials.
August 10, 2022
Iberdrola has commissioned the 590MW 'Francisco Pizarro' PV project in Extremadura Southwestern Spain, which is Europe’s largest solar plant.
PV Tech Premium
August 10, 2022
PV Tech Premium looks at the main drivers that drove solar PV in Chile in the last years and has risen as one of the leaders in the region.
August 10, 2022
OMERS Private Equity has acquired a minority stake in the Arizona-headquartered solar operations & maintenance (O&M) provider NovaSource Power Services.
August 10, 2022
A solar PV module frame made of recycled roll-formed steel has outperformed conventional aluminium frames in testing by an independent third party.
August 10, 2022
US solar tracker manufacturer FTC Solar has cut its net losses compared with last quarter and Q2 2021 but has seen its revenue collapse, blaming a hostile solar environment in the US that has seen project delays and cancellations, which it said it now hoped was coming to an end.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 7, 2022
15:30 AEST (UTC +10)
Solar Media Events
September 14, 2022
London
Solar Media Events
October 4, 2022
New York, USA
Solar Media Events
October 11, 2022
Virtual event