Canadian Solar has submitted draft registration documents for its planned yieldco.
The company revealed that the documents had been submitted confidentially to the US Securities and Exchange Commission.
The firm has been open about the development of a downstream investment vehicle for some time with CEO Shawn Qu confirming in an August quarterly results call that it was continuing to make progress.
“We continue to plan the launch of our renewable energy yieldco with high quality assets in OECD countries,” he said at the time. In the same call he put the company’s late-stage development pipeline at 2.4GW.
Canadian Solar appears to be undeterred by the challenging conditions facing existing renewable energy yieldcos.
Shares in SunEdison’s Terraform Power have fallen from a high of around US$42 in April 2015 to less than US$20 at the time of writing. The SunPower-First Solar joint venture 8Point3 Energy Partners has fallen from US$20 at the time of its launch in June to around US$14 at the time of writing.
No further details of Canadian Solar's proposed yieldco were made public.