Canadian Solar announces manufacturing plans for China
The company plans to add capacity in Yangzhou City.
Solar panels soak up some rays in China.
Canadian Solar Inc. announced that a wholly-owned subsidiary of its majority-owned subsidiary CSI Solar Co., Ltd. has entered into a multi-year investment agreement with the municipal government of Yangzhou City in Jiangsu Province, China. Under the Agreement, CSI Solar plans to add vertically integrated high efficiency wafer, cell, and module capacity, as well as battery system manufacturing capacity, in Yangzhou’s clean energy manufacturing industrial park.
The project plan will be carried out in three phases, with phase I being 14 GW of wafer and cell capacity.
Phase I is expected to commence production in the second half of 2023, while the implementation of phase II and III is subject to change, at the company’s discretion, based on market conditions and the company’s assessments. With this announcement and considering the solar supply chain‘s demand and supply backdrop, the Canadian Solar updated its 2023 year-end capacities to 20 GW of ingot, 35 GW of wafer, and 50 GW of cell and modules.
Canadian Solar was founded in 2001 in Canada and is one of the world’s largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development.