financial aspect

Canadian Solar announces doubling of capacity in 1st quarter

Published on Sunday 21 May 2023 | Article n°446

Canadian Solar shipped 6.1 GW in the1st quarter, up 66% year-on-year. Sales for the period totalled $1.7 billion, up

by 36%. Average panel prices declined during the year, as did revenues from utility-scale battery storage solutions and project sales.

The company has a current annual capacity of 20.4 GW, 21 GW and 36.2 GW of ingots, wafers, cells and panels, respectively, and aims to more than double each section by March 2024. The company plans to reach an annual capacity of 50.4 GW. 50 GW, 60 GW and 75 GW for ingots, wafers, cells and panels respectively.

PV Tech of 18 May 2023

Editor's note: If it weren't for the plan to more than double Canadian Solar's production capacity, one wonders why the company would be quotingQ1 sales figures!

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