TORONTO, Oct. 2 /Xinhua-PRNewswire/ -- Canadian Solar Inc. ("the Company","CSI" or "we") (Nasdaq: CSIQ) today announced it has completed and commissioned the Phase I of its ingot and wafer plant on schedule, giving the Company an annualized ingot and wafer capacity of 60 MW. Phase II of the ingot plant is expected to be completed by year-end, ahead of the original schedule. This will bring the Company's ingot and wafer capacity to 150 - 200 MW.
In further developments, Canadian Solar's 250 MW Phase II cell plant will also be completed in October, with the next stage to begin immediately thereafter. As of October, CSI's current annualized capacity is 220 MW and is expected to reach the target of 400 MW by the end of December, also ahead of schedule.
Both new plants are fully financed and fully supplied with both wafer and feedstock for Q4. This will enable the Company to produce 45-50 MW of polysilicon cells and UMG e-Cells internally in Q4. This will be supplemented by solar cells supplied from our long-term solar cell suppliers at competitive prices. In light of these recent developments, the Company is reiterating its top-line revenue and gross margin guidance for 2008 of $850-$970 million and13%-15%, respectively.
For 2009 the Company believes that it has secured approximately 4,000 Metric tons of UMG, enabling it to produce between 250 and 300 MW of UMG e-cells and e-Module in 2009. We are reiterating our shipment and gross margin guidance for 2009 of 500 - 550 MW and 13 - 15%, respectively.
Chairman and CEO Shawn Qu commented: "Demand remains high for both of our regular high-efficiency modules and our proprietary e-Module products. ASP's 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."
About Canadian Solar Inc. (NASDAQ: CSIQ)
Founded in 2001, Canadian Solar Inc. (CSI) is a vertically integrated manufacturer of solar cell, solar module and custom-designed solar application products serving customers worldwide. CSI is incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years of experience and knowledge in the solar power market and the silicon industry, CSI has become a major global provider of solar power products for a wide range of applications. For more information, please visit http://www.csisolar.com .
Showing posts with label solar application. Show all posts
Showing posts with label solar application. Show all posts
Saturday, October 4, 2008
Friday, July 20, 2007
CSI Received US$50 Million Syndicated Loan
July 19, 2007: 07:46 AM EST
JIANGSU, China, July 19 /Xinhua-PRNewswire/ -- Canadian Solar Inc. (''the Company'', or ''CSI'') announced today that it has signed an aggregate US$50 million syndicated loan agreement with Industrial and Commercial Bank of China (ICBC) and Communication Bank of China. The majority of this loan will be used for the expansion of CSI's solar cell manufacturing facilities in the Suzhou New District. This new loan agreement, together with other existing banking arrangements, provides CSI with approximately US$90 million in available credit lines. CSI also signed strategic partnership agreements with both banks, which pledged continuous support to CSI's five- year growth plan.
Dr. Shawn Qu, Chairman and Chief Executive Officer of CSI, together with other representatives from CSI and the bank syndicate were present at the signing ceremony held in Jiangsu, China.
Dr. Shawn Qu, Chairman and CEO of CSI, said, ''We appreciate the support of our local banks as they continue to be supportive, long-term strategic partners. This credit agreement is very positive for CSI, as it enables us to execute our long-term growth plan without causing any dilution to shareholders. We have already completed our second 25MW cell line, currently in test run. We expect this second line to be at full production in August. We continue to expect lines three and four to be completed for full production in the fourth quarter. By then, CSI will have 100MW of annual cell manufacturing capacity. CSI remains well-positioned for continued fast growth given our global customer base, reputation for high quality modules, and the financial strength to support the increased customer demand levels.''
About Canadian Solar Inc.
Founded in 2001, Canadian Solar Inc. (CSI) is a vertically integrated manufacturer of solar cell, solar module and customer-designed solar application products serving worldwide customers. CSI is incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years of experience and knowledge in the solar power market and the silicon industry, CSI has become a major global provider of solar power products for a wide range of applications. For more information, please visit http://www.csisolar.com .
JIANGSU, China, July 19 /Xinhua-PRNewswire/ -- Canadian Solar Inc. (''the Company'', or ''CSI'') announced today that it has signed an aggregate US$50 million syndicated loan agreement with Industrial and Commercial Bank of China (ICBC) and Communication Bank of China. The majority of this loan will be used for the expansion of CSI's solar cell manufacturing facilities in the Suzhou New District. This new loan agreement, together with other existing banking arrangements, provides CSI with approximately US$90 million in available credit lines. CSI also signed strategic partnership agreements with both banks, which pledged continuous support to CSI's five- year growth plan.
Dr. Shawn Qu, Chairman and Chief Executive Officer of CSI, together with other representatives from CSI and the bank syndicate were present at the signing ceremony held in Jiangsu, China.
Dr. Shawn Qu, Chairman and CEO of CSI, said, ''We appreciate the support of our local banks as they continue to be supportive, long-term strategic partners. This credit agreement is very positive for CSI, as it enables us to execute our long-term growth plan without causing any dilution to shareholders. We have already completed our second 25MW cell line, currently in test run. We expect this second line to be at full production in August. We continue to expect lines three and four to be completed for full production in the fourth quarter. By then, CSI will have 100MW of annual cell manufacturing capacity. CSI remains well-positioned for continued fast growth given our global customer base, reputation for high quality modules, and the financial strength to support the increased customer demand levels.''
About Canadian Solar Inc.
Founded in 2001, Canadian Solar Inc. (CSI) is a vertically integrated manufacturer of solar cell, solar module and customer-designed solar application products serving worldwide customers. CSI is incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years of experience and knowledge in the solar power market and the silicon industry, CSI has become a major global provider of solar power products for a wide range of applications. For more information, please visit http://www.csisolar.com .
Friday, June 8, 2007
World's 1st solar-powered mobile developed in China
BEIJING, June 7 (Xinhua) -- A Chinese company says it has developed a mobile phone that uses solar energy to recharge itself and can provide 40 minutes of talk-time after sitting in the sun for an hour.
Hi-Tech Wealth, a well-known telecommunication products supplier in China, claims its mobile phone is the world's first solar power to recharge its battery.
The company says a scale-like solar panel on the top side of the clamshell-designed phone can also be recharged by light from other sources including candles.
Hi-Tech Wealth says it has developed the most advanced solar power technology and owns eight patents and has applied for numerous others.
Many companies around the world are working on similar mobile phones but their products are still at the experimental stage, said an official with Hi-Tech Wealth.
Zhang Zhengyu, chairman of Hi-Tech Wealth, said the company began researching the use of light as an energy source in 2000 and has invested hundreds of millions of yuan.
"With more than 400 million mobile phones in the country, China would save a great amount of electricity if all its mobile phones were recharged by light," Zhang said, adding that the lifespan of the battery in the new phone is 2.5 times longer that traditional batteries.
In March, Hi-Tech Wealth exhibited its light energy mobile phones at the world's largest electronic, IT and telecommunication products trade show CeBIT in Hanover, Germany.
The company plans to put six of its light energy mobile phones on the market this year, and another 30 next year.
Hi-Tech Wealth, a well-known telecommunication products supplier in China, claims its mobile phone is the world's first solar power to recharge its battery.
The company says a scale-like solar panel on the top side of the clamshell-designed phone can also be recharged by light from other sources including candles.
Hi-Tech Wealth says it has developed the most advanced solar power technology and owns eight patents and has applied for numerous others.
Many companies around the world are working on similar mobile phones but their products are still at the experimental stage, said an official with Hi-Tech Wealth.
Zhang Zhengyu, chairman of Hi-Tech Wealth, said the company began researching the use of light as an energy source in 2000 and has invested hundreds of millions of yuan.
"With more than 400 million mobile phones in the country, China would save a great amount of electricity if all its mobile phones were recharged by light," Zhang said, adding that the lifespan of the battery in the new phone is 2.5 times longer that traditional batteries.
In March, Hi-Tech Wealth exhibited its light energy mobile phones at the world's largest electronic, IT and telecommunication products trade show CeBIT in Hanover, Germany.
The company plans to put six of its light energy mobile phones on the market this year, and another 30 next year.
Friday, May 18, 2007
New Light on Solar Energy
The market isn't mature yet, but it's rapidly picking up speed thanks to rising environmental consciousness and innovative initiatives
by Cassidy Flanagan
Kermit the Frog once exclaimed, "it's not easy being green," but today being green is the fast track to raising both profits and environmental consciousness. Take the rapidly expanding solar-energy market, which has picked up momentum in the past few years and which was the topic of a RBC Financial Group report, "Investing in Solar Now," released on May 9.
The report from the New York City-based group provides a useful snapshot of the current state of the solar-energy industry and its potential for investors. According to the report, the demand for photovoltaic solar power will grow about 40% by 2011, making it an attractive market for venture capital and private investment.
"[Solar energy] isn't mature yet, so a lot of money is going into research and development. About $1.7 billion was invested as private equity and venture capital in the solar industry in 2006—mostly private equity for factories in China and investment in technology companies in the U.S. and Germany," explains Jenny Chase, a senior solar analyst for London-based investor research and information firm New Energy Finance. "In addition, $4.5 billion was invested in publicly quoted solar companies in 2006, most of which is being spent on expanding global manufacturing capacity," she adds.
Solar energy's recent boom is due in part to growing public and governmental awareness of the developing technology, which was introduced as an energy option during the oil crisis of the 1970s. In 1999, German legislation—known as the "100,000 Roofs" law, due to its aim to cover 100,000 roofs with panels—followed by the Renewable Energy Law in 2000, provided low-interest loans for home and business owners to install solar-power panels. It also gave installers the opportunity to earn half a euro for every kilowatt of electricity they generated in the power grid.
Silicon Panels Still Rule
In the U.S., the Energy Policy Act of 2005 currently provides a 30% tax credit on all solar systems installed by private homeowners and businesses. This policy is set to expire at the end of this year, though newly proposed legislation would extend these same credits until 2016.
Of the total solar-energy market, 95% is dominated by photovoltaic solar power, which directly converts the sun's rays into electricity. These panels use silicon, a material that raises its own environmental red flag, though industry professionals claim it has had no proven negative effects on the environment. In 2004, high demand for solar panels led to a bottleneck in the supply chain of silicon, driving up prices—and providing opportunities. "There's currently a lot of money being invested in new silicon production capacity to respond to the demand," says Chase.
But despite growth in the sector, solar power still plays a minimal role in energy production, with only .03% of worldwide electricity generated from photovoltaic power. As Chase points out, the technology is still underdeveloped, though that hasn't stopped innovative engineers and designers using what's available to produce viable, commercially focused products.
One such group is London-based SolarLab, which was founded in 2006 by Swiss-born Christophe Behling. Behling, a designer who has previously worked with companies such as Tag Heuer and Nokia (NOK), has created items from luxury products to solar vehicles. He designed the world's largest solar-powered vessel in Hamburg, Germany. The Hamburg Solarshuttle seats 120 passengers and was launched in 2000. To date, Behling has designed over 40 solar-powered water vessels, from large, commercial boats to smaller, private boats for personal use.
Slow Boat to Hyde Park
"The costs can be recovered on a boat like this in as little as three years," says Behling. "If you were to build a solar powered boat to the same size as a boat with a diesel engine, you would save 15% to 20% from the cost of fuel alone."
Most recent is SolarLab's design of the largest solar-powered boat in Britain, the Serpentine Solar Shuttle. Permanently moored on London's Serpentine Lake, the stunning craft made its maiden voyage last July, its two, silent engines completely powered by the sun. The shuttle moves slowly (at about 5 mph) and can hold up to 42 passengers. The battery can store up to 80 miles of energy when there's no direct sun (as on overcast days) and can travel for 20 miles in complete darkness.
Both the Serpentine and Hamburg Solar Shuttles usually generate more power than necessary and can feed excess energy back into their respective national grids in Britain and Germany. In Hamburg, the shuttle spends the three months of the year it's not sailing docked on the lake, feeding energy into the grid of the Hamburg Electric Company. According to Behling, it provides enough energy to fuel the city lights. In Germany, power companies must buy back photovoltaic power at about 50 cents per kilowatt hour, more than twice what normal utilities charge.
Next Project: Solar Golf Cart
SolarLab's latest ventures include building an even larger vessel, which will be a hybrid boat using solar power and bio-diesel fuel. Does that mean solo solar isn't viable? No, argues Behling. For now it's a question of practicality: As long as solar technology remains underdeveloped, the combined energy vessel can travel at greater speeds and navigate waters with stronger currents.
This boat is intended for London's Thames, and Behling's goal is to have it on the water in time for the 2012 Summer Olympics in London. The Thames boat will be able to reach speeds of 18 knots and will hold up to 200 passengers. SolarLab is also working on a solar-powered golf cart, which the company hopes to mass-produce. Currently, all of SolarLab's vehicles are custom made, making them pretty expensive—the Serpentine SolarShuttle cost around $470,000. Thinking small but mass market could revolutionize SolarLab's business.
For Behling, however, the most difficult part of the solar story is to change consumers' awareness of its current, and potential, capabilities. "Our most challenging aspect is the perception of the client. Many believe solar power isn't a reliable energy or that it's not sustainable. One of our goals is to shift the consumer mindset," he says. By creating vehicles that use reliable solar technology, and are accessible and aesthetically pleasing, SolarLab aims to create change through inspiration.
by Cassidy Flanagan
Kermit the Frog once exclaimed, "it's not easy being green," but today being green is the fast track to raising both profits and environmental consciousness. Take the rapidly expanding solar-energy market, which has picked up momentum in the past few years and which was the topic of a RBC Financial Group report, "Investing in Solar Now," released on May 9.
The report from the New York City-based group provides a useful snapshot of the current state of the solar-energy industry and its potential for investors. According to the report, the demand for photovoltaic solar power will grow about 40% by 2011, making it an attractive market for venture capital and private investment.
"[Solar energy] isn't mature yet, so a lot of money is going into research and development. About $1.7 billion was invested as private equity and venture capital in the solar industry in 2006—mostly private equity for factories in China and investment in technology companies in the U.S. and Germany," explains Jenny Chase, a senior solar analyst for London-based investor research and information firm New Energy Finance. "In addition, $4.5 billion was invested in publicly quoted solar companies in 2006, most of which is being spent on expanding global manufacturing capacity," she adds.
Solar energy's recent boom is due in part to growing public and governmental awareness of the developing technology, which was introduced as an energy option during the oil crisis of the 1970s. In 1999, German legislation—known as the "100,000 Roofs" law, due to its aim to cover 100,000 roofs with panels—followed by the Renewable Energy Law in 2000, provided low-interest loans for home and business owners to install solar-power panels. It also gave installers the opportunity to earn half a euro for every kilowatt of electricity they generated in the power grid.
Silicon Panels Still Rule
In the U.S., the Energy Policy Act of 2005 currently provides a 30% tax credit on all solar systems installed by private homeowners and businesses. This policy is set to expire at the end of this year, though newly proposed legislation would extend these same credits until 2016.
Of the total solar-energy market, 95% is dominated by photovoltaic solar power, which directly converts the sun's rays into electricity. These panels use silicon, a material that raises its own environmental red flag, though industry professionals claim it has had no proven negative effects on the environment. In 2004, high demand for solar panels led to a bottleneck in the supply chain of silicon, driving up prices—and providing opportunities. "There's currently a lot of money being invested in new silicon production capacity to respond to the demand," says Chase.
But despite growth in the sector, solar power still plays a minimal role in energy production, with only .03% of worldwide electricity generated from photovoltaic power. As Chase points out, the technology is still underdeveloped, though that hasn't stopped innovative engineers and designers using what's available to produce viable, commercially focused products.
One such group is London-based SolarLab, which was founded in 2006 by Swiss-born Christophe Behling. Behling, a designer who has previously worked with companies such as Tag Heuer and Nokia (NOK), has created items from luxury products to solar vehicles. He designed the world's largest solar-powered vessel in Hamburg, Germany. The Hamburg Solarshuttle seats 120 passengers and was launched in 2000. To date, Behling has designed over 40 solar-powered water vessels, from large, commercial boats to smaller, private boats for personal use.
Slow Boat to Hyde Park
"The costs can be recovered on a boat like this in as little as three years," says Behling. "If you were to build a solar powered boat to the same size as a boat with a diesel engine, you would save 15% to 20% from the cost of fuel alone."
Most recent is SolarLab's design of the largest solar-powered boat in Britain, the Serpentine Solar Shuttle. Permanently moored on London's Serpentine Lake, the stunning craft made its maiden voyage last July, its two, silent engines completely powered by the sun. The shuttle moves slowly (at about 5 mph) and can hold up to 42 passengers. The battery can store up to 80 miles of energy when there's no direct sun (as on overcast days) and can travel for 20 miles in complete darkness.
Both the Serpentine and Hamburg Solar Shuttles usually generate more power than necessary and can feed excess energy back into their respective national grids in Britain and Germany. In Hamburg, the shuttle spends the three months of the year it's not sailing docked on the lake, feeding energy into the grid of the Hamburg Electric Company. According to Behling, it provides enough energy to fuel the city lights. In Germany, power companies must buy back photovoltaic power at about 50 cents per kilowatt hour, more than twice what normal utilities charge.
Next Project: Solar Golf Cart
SolarLab's latest ventures include building an even larger vessel, which will be a hybrid boat using solar power and bio-diesel fuel. Does that mean solo solar isn't viable? No, argues Behling. For now it's a question of practicality: As long as solar technology remains underdeveloped, the combined energy vessel can travel at greater speeds and navigate waters with stronger currents.
This boat is intended for London's Thames, and Behling's goal is to have it on the water in time for the 2012 Summer Olympics in London. The Thames boat will be able to reach speeds of 18 knots and will hold up to 200 passengers. SolarLab is also working on a solar-powered golf cart, which the company hopes to mass-produce. Currently, all of SolarLab's vehicles are custom made, making them pretty expensive—the Serpentine SolarShuttle cost around $470,000. Thinking small but mass market could revolutionize SolarLab's business.
For Behling, however, the most difficult part of the solar story is to change consumers' awareness of its current, and potential, capabilities. "Our most challenging aspect is the perception of the client. Many believe solar power isn't a reliable energy or that it's not sustainable. One of our goals is to shift the consumer mindset," he says. By creating vehicles that use reliable solar technology, and are accessible and aesthetically pleasing, SolarLab aims to create change through inspiration.
Subscribe to:
Posts (Atom)
