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daggidoodle 69 posts  |  Last Activity: Nov 23, 2014 9:21 AM Member since: Feb 23, 1999
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  • daggidoodle daggidoodle Nov 23, 2014 9:21 AM Flag

    the big boys manipulating issues with low outstanding shares it not bs ! hedge funds tend to be very active traders looking for the quick buck...not holding firm for the long haul...we will be hearing much more about this shortly especially since Elizabeth Warren is examining theses machinations. Canadian Solar's coming yieldco will prove extremely significant for it's pps moving it immediately to the upside IMO! BTW watch MY tomorrow.

    Sentiment: Strong Buy

  • daggidoodle daggidoodle Nov 22, 2014 8:58 AM Flag

    son of a gun they posted it they wouldn't permit my earlier postings about Goldman Sachs and Carlyle Group machinations! Nice comments by odyd

    Sentiment: Strong Buy

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    0
    * * * * *
    The Execution of Canadian Solar on the day of Triumph

    Nov 13 2014 05:32 AM | odyd in Solar Stock Investing
    CSIQ

    Despite of the best results on record and earning $1.75 per share, Canadian Solar had fallen a victim of an orchestrated sale executed by Golden Sachs and others for not delivering an objective of yieldco.
    I guess prudent company that manages its capital by essentially replacing its growth spending from project to project only, is not an attractive model to WS. The model of SUNE, with MWs booked, spending and the catastrophic balance sheet,income statement is misunderstood by masses conveniently, that model is worth $5B alone and it is better.
    We all seen recommendations for SUNE, not a single downgrade. CSIQ is a short sale according to Axiom's finest, Gordon Johnson, but GS took literally at $1B and removed yesterday from a market cap on exactly the same Microsoft Presentation as the day before. If you take that presentation from August and add news releases from both, Q2 and Q3, you will see that the same schedule exists for Japan. In ,fact it got enhanced by few MW, no difference in timelines. Same can be said for Canada, of course less what was sold.
    So what was the shock Frank experienced when he did the $1B chop? Margins, as of course He (last name) ignored 200MW as too much of the concept.
    The margins going from 17 to 19% has cost the company this. A drop of 3.9% from 22.9% to 19% on 975M is 38M, If I fully apply this amount to the bottom line that is the more than $0.50 per share. If this was moved, Q4 would be a $1.75 quarter and Q3 would be a $1.25 quarter as they planned (analysts did). Then Q1 would look like a cheap cousin on Christmas, and the same, but perhaps worse as the expectations would be poor fro sales of plants for Q1, would happen.
    You see Frank needed to come out, because he had his comments scripted, this is why the whole thing does not make much sense. Johnson came out because it was scripted to come out. Nothing Johnson knew day before was different day later, he bent the facts a bit to make the splash but no new information was provided. This was a conspiracy. They knew they were going to sell this stock yesterday, no matter what the company has done.
    Why so little focus on 200MW of new projects? Why did they not ask about GCL situation? Makes sense and their wafer. The principle business of CSIQ was in jeopardy not because of projects but wafer supply issues. This did not matter. Somehow selling for profit, made analysts realize that good projects are scare regardless as Uchsteve pointed out Potter saying Japan is up on ASP as I mentioned due to grid connection value.

    So why selling this equity so hard? Two things only. No short and fees from money on secondary and no money from IPO yieldco. Companies, which are hinting not to go to a disastrous financial schemes, are being stripped of value. You do not pay them for fees, you do not allow them to short stock like TSL did. You do not provide them with easy money. They taken a 12% killing of FSLR and moved it to CSIQ yesterday. It did not matter than CSIQ was a better company, which made almost three times per share FSLR did. SPWR will do yieldco and it made 0.20 and they left it alone. Bankers have managed to beat the management of these companies to servant state of reaching their objectives. I think WS forced TSL to do secondary, so they can sell her short and close early short. They managed to destroy the stock now trading at $9 to achieve their trading objectives.

    Sentiment: Strong Buy

  • Reply to

    Shorts are very uncomfortable it seems

    by doowop59 Nov 21, 2014 2:32 AM
    daggidoodle daggidoodle Nov 21, 2014 3:12 AM Flag

    Food For Thought


    A Greener Way To Cool Your Foods On The Way To The Grocery Store


    September 04, 201312:37 PM ET

    fromNWPR


    Courtney Flatt


    Right now, there are an estimated 300,000 refrigerated trucks cooled by diesel engines on the road in the U.S. Researchers are hoping to replace them with a fuel-cell-based cooling system — which means your foods would hitch a greener ride to the store.
    i


    Right now, there are an estimated 300,000 refrigerated trucks cooled by diesel engines on the road in the U.S. Researchers are hoping to replace them with a fuel-cell-based cooling system — which means your foods would hitch a greener ride to the store.

    Flickr Creative Commons/Scania Group

    Right now, there are an estimated 300,000 refrigerated trucks cooled by diesel engines on the road in the U.S. Researchers are hoping to replace them with a fuel-cell-based cooling system — which means your foods would hitch a greener ride to the store.

    Your produce and frozen foods could soon arrive at grocery stores in trucks that release fewer emissions. Researchers are developing a clean technology to keep your food cool while it travels.

    Engineers at Pacific Northwest National Laboratory are working to replace refrigerated trucks' diesel-burning cooling system with fuel cells. These fuel cells mix hydrogen and air to create energy; the byproduct is water. Researcher Kriston Brooks says that means fewer greenhouse gas and particulate emissions than from diesel engines.

    "From the big picture of how much carbon dioxide we produce and other emissions, it's pretty small," Brooks says. "But it's a start."

    Brooks says hydrogen fuel cells are twice as efficient as the diesel engines used to cool refrigerated trucks, but they can be expensive. He and his colleagues are working to make them cheaper for companies to use. The cooling system they are currently working on — which includes a fuel cell and cooling container, — costs about $40,000. By comparison, a diesel-engine-based cooling system typically runs $20,000-$30,000. But, Brooks says, the price of fuel cells is quickly dropping.

    He says people also get a little nervous when they hear the words hydrogen and fuel in the same sentence.

    "We are working very hard on this project to include the hydrogen safety panel that [the Department of Energy] has set up to make sure that we're incorporating suggestions that they have so that it can be a safe technology," Brooks says.

    Researchers will spend the next year testing the equipment in the lab. Field tests will take place in the summer of 2015, when trucks powered by the fuel cells will be used to transport groceries in California, Texas and New York. The goal over the 400 hours of logged run time is to assess the fuel cell's durability as it rumbles down the road.

    "We wanted to verify that it would work in various climates in different times of year. Certainly it's a lot more rigorous on a fuel cell and a [transport refrigeration unit] during the summertime," Brooks says.

    Several grocery facilities participating in the research already power their forklifts with hydrogen fuel cells. Experiments are also being run in buses and cars, and on grid-reliability projects. Researchers are also working on powering luggage transportation carts at airports with fuel cells.

    The fuel cells, which are about the size of a breadbox, will save about 10 gallons of fuel per day per truck, the researchers say. That may not sound like much, but the hope is that if fuel cells can replace the diesel engines currently used to cool some 300,000 refrigerated trucks on the road in the U.S., the energy savings will soon add up.

    Sentiment: Strong Buy

  • or expanding it's fuel cell enterprise with PLUG prior to the Bloom IPO ?

    Sentiment: Buy

  • Home » Globe Investor » Investment Ideas

    STRATEGY

    Parting the clouds on Canadian Solar

    DAVID MILSTEAD

    Special to The Globe and Mail

    Last updated Friday, Nov. 14 2014, 8:11 PM EST








    As in a late Ontario fall, the clouds have rolled in and the skies are grey for Canadian Solar Inc.

    Some of this, one can say, is of the company’s own making: Canadian Solar’s blowout third-quarter earnings report this week included what investors saw as disappointing guidance for sales and profit margins in the current three months.




    Much is out of its control: As oil prices have tanked, most solar-energy stocks have followed, on the premise that cheaper fossil fuels make solar less necessary.

    The end result: Guelph, Ont.-based Canadian Solar has lost all the gains it posted since an August earnings surprise launched the shares on a path from $25 (U.S.) to more than $41 in early September. The shares lost 18 per cent of their value from Tuesday to Thursday before rebounding 4.7 per cent Friday to close at $26.93.

    Even more striking for investors: The stock’s decline, coupled with sharply increasing earnings, have created a remarkable reversal in its price-to-earnings ratio. Earlier this year, Canadian Solar traded as high as 62 times its trailing earnings, per Standard & Poor’s Capital IQ, and spent much of the first half of the year above 40. Now, the stock trades at just under nine times trailing earnings – and has a forward P/E of less than six, when analysts’ estimates are taken into account.

    All told, it represents an opportunity for solar bulls who believe the sun will come out – perhaps not tomorrow, but in the long term.

    “Canadian Solar is trading at … a discount to growth, and a discount to its peer group … unjustified, in our view,” Paul Coster, an analyst for JPMorgan, wrote Wednesday after the company announced earnings. He has an “overweight” rating and a $38 target price. “The selloff in the stock seems unjustified, based on these solid 3Q results and the broader narrative.”

    The broader narrative, of course, is the future of the photovoltaic solar industry, and Canadian Solar’s place in it. The company started primarily as a seller of solar modules, which has increasingly become a lower-margin business. Recognizing that, the company has begun offering higher-margin “total solutions” – i.e., building the solar-power generations systems or offering engineering and construction services to others. Canadian Solar is on track to book 50 per cent of its revenue in 2014 from “total solutions,” versus just 11.5 per cent in 2012.

    The focus on margins is at the heart of Wednesday’s disappointment. Canadian Solar posted revenue of $914-million, versus analyst consensus of $803-million, and earnings per share of $1.73 versus $1.16, says analyst Josh Baribeau of Canaccord Genuity Inc. Gross margins of 23 per cent were well above the high-teens numbers of the second quarter.

    The company’s guidance for the fourth quarter, however, was for revenue in a range below the analyst consensus, and gross margins sliding back to the high teens of the second quarter.

    Mr. Baribeau argues that the consensus was unduly inflated by one outlying estimate, and the gross margin pressure should not have come as a surprise. Five large, higher-margin Canadian project sales, totalling $300-million (Canadian), drove the third-quarter results, he says, and upcoming projects have lower margins.

    “We do not view Canadian Solar as a margin-expansion story, but rather as more of a solid top-line grower with strong operating leverage and cash earnings,” says Mr. Baribeau, who has a “buy” rating and $46 (U.S.) target price. While 72 per cent of the quarter’s sales came in the Americas, versus 21 per cent in Asia and 7 per cent in Europe, “We believe that the company can increasingly lever its experience in large-scale project origination, underwriting and execution learned in Canada to deliver projects [in] other markets.”

    Chris Damas, an analyst and editor of BCMI Report, was buying Canadian Solar shares Wednesday as they fell below $30. “I cannot stress this enough – solar has come of age, and after over 12 years of following the sector, the number of players has been whinnied down to large, sophisticated and well-capitalized players of which Canadian Solar is one of the best, if not the best, name.”

    He also adds that Canadian Solar “is a volatile stock and is for risk-tolerant investors,” which is certainly true, given the roller-coaster ride it has taken its shareholders on. Solar power still relies on government subsidies; policies can change as political power shifts and declining oil prices make alternative energy seem less urgent. (The outlook for U.S. solar power must be said to be less robust after that country’s recent elections.)

    One of Canadian Solar’s chief challenges will be to build on its Ontario successes, even if the new projects are less lucrative; Axiom Capital Management Inc. analyst Gordon Johnson believes the company cannot come close to replacing the high-margin Ontario sales. Per an article in the investing newspaper Barron’s, Mr. Johnson believes the company’s “earnings are about to collapse,” and he names it his top short-selling idea in the solar space.

    Strong stuff, indeed, and a view worth considering. The sell-side analysts like Mr. Baribeau of Canaccord would counter that Canadian Solar’s overall project pipeline continues to grow despite all the Ontario-based revenue recognized in the third quarter. “While the new pipeline carries increased policy risk and in some cases lower margins compared to the Canadian projects that have been the company’s mainstay thus far, we still have confidence that the company is among the best-positioned solar companies approaching these new markets and can complete this strategy given its solid track record of execution.”

    Sentiment: Strong Buy

  • Landmark Pact

    The historic agreement sets new goals for the U.S. in the realm of carbon emission reductions. In an unprecedented move, China has also agreed to stop emissions from increasing by the year 2030. The agreement was jointly announced by President Obama and China’s President Xi Jinping in Beijing on Wednesday.

    Senate majority leader designate Mitch McConnell criticized the pact as an “unrealistic plan.” In contrast, House minority leader Nancy Pelosi said the new targets “represent a commitment to confronting climate change with the seriousness it deserves.”

    Ambitious Targets

    According to the new agreement, the U.S. will reduce carbon emissions by 26 to 28% from 2005 levels by 2025. This is twice the rate of reduction that the U.S. had targeted for the 2005-20 period.

    Meanwhile, China has agreed to achieve peak carbon emissions by the year 2030 or earlier if possible. President Xi has said that environment friendly energy sources like wind and solar power will make up 20% of China’s total energy production by 2030 in order to meet this target.

    The world’s two largest carbon pollution countries have set themselves ambitious emission reduction targets. This is being viewed as crucial to sealing a new global agreement on the issue. Analysts believe that unless China and the U.S. can reach an agreement on the issue, other countries will not agree to reduce carbon emissions.

    Global Impact

    The new emission reduction target reductions that the U.S. has set for itself are ambitious. President Obama will face stiff opposition on this front from the now Republican-dominated Congress. However, officials have stated that these targets can be met using laws already in existence.

    More importantly, the agreement comes right ahead of the G20 summit in Brisbane. Both President Obama and President Xi are expected to attend the summit. The agreement steps up the pressure on the Australian government.

    The country’s Prime Minister Tony Abbott has shown relucta

    Sentiment: Strong Buy

  • daggidoodle by daggidoodle Nov 13, 2014 11:34 PM Flag

    Northland Securities raised their price target on shares of Canadian Solar from $47.00 to $48.00 in a research note on Thursday

    Sentiment: Strong Buy

  • Cowen analyst Jeff Osborne assigned a Buy rating to Plug Power Inc (NASDAQ: PLUG) today. The company’s shares opened today at $4.06.

    Plug Power Inc has an analyst consensus of Moderate Buy, with a price target consensus of $5.50.

    Based on Plug Power Inc`s latest earnings report from June 30, the company posted quarterly revenue of $17.32M and quarterly net profit of $3.88M. In comparison, last year the company earned revenue of $4.63M and had a net profit of -$15,895,372.

  • Reply to

    panic selling and a lack of intelligent comments

    by platytale Nov 13, 2014 4:11 PM
    daggidoodle daggidoodle Nov 13, 2014 4:52 PM Flag

    Hedge funds came in for the earnings run-up and sold when 3Q was announced with a very handsome one month profit!

    Sentiment: Strong Buy

  • •Net income attributable to Canadian Solar in the third quarter of 2014 was $104.2 million, or $1.75 per diluted share, compared to $55.8 million, or $0.95 per diluted share, in the second quarter of 2014

    Sentiment: Strong Buy

  • Third Quarter 2014 Highlights
    •Solar module shipments were 770 MW, compared to 646 MW in the second quarter of 2014 and third quarter guidance in the range of 720 MW to 750 MW.
    •Net revenue was $914.4 million, compared to $623.8 million in the second quarter of 2014 and third quarter guidance in the range of $760 million to $810 million.
    •Net revenue from the total solutions business, as a percentage of total net revenue, was 53.8% compared to 32.6% in the second quarter of 2014.
    •Gross margin was 22.9%, compared to 19.0%, in the second quarter of 2014 and to third quarter guidance in the range of 19% to 21%.
    •Net income attributable to Canadian Solar in the third quarter of 2014 was $104.2 million, or $1.75 per diluted share, compared to $55.8 million, or $0.95 per diluted share, in the second quarter of 2014.
    •Cash, cash equivalents and restricted cash balances at the end of the quarter totaled $817.2 million, compared to $788.3 million at the end of the second quarter of 2014.
    •Net cash generated from operating activities was $ 204.1 million, compared to net cash used in operating activities of $44.3 million in the second quarter of 2014.
    •During the quarter, the Company closed the sale of five solar power plants in Ontario, Canada, valued at over C$306 million.

    Third Quarter 2014 Results

    Net revenue for the third quarter of 2014 was $914.4 million, up 46.6% from $623.8 million in the second quarter of 2014 and up 86.3% from $490.9 million in the third quarter of 2013. Total solar module shipments in the third quarter of 2014 were 770 MW, compared to 646 MW in the second quarter of 2014 and 478 MW in the third quarter of 2013. Solar module shipments in the third quarter of 2014 included 173 MW used in the Company's total solutions business, compared to 70 MW in the second quarter of 2014 and 60 MW in the third quarter of 2013.

    By geography, in the third quarter of 2014, sales to the Americas represented 71.7% of net revenue, sales to Asia and other markets represented 20.9% of net revenue, and sales to Europe represented 7.4% of net revenue, compared to 55.5%, 29.8% and 14.7%, respectively, in the second quarter of 2014 and 46.9%, 43.6% and 9.5%, respectively, in the third quarter of 2013.


    Q3 2014

    Q2 2014

    Q3 2013


    US$M

    %

    US$M

    %

    US$M

    %


    The Americas

    655.3

    71.7

    346.0

    55.5

    230.3

    46.9


    Asia and others

    191.6

    20.9

    186.2

    29.8

    214.2

    43.6


    Europe

    67.5

    7.4

    91.6

    14.7

    46.4

    9.5


    Total

    914.4

    100.0

    623.8

    100.0

    490.9

    100.0


    Gross profit in the third quarter of 2014 was $209.3 million, compared to $118.2 million in the second quarter of 2014 and $100.2 million in the third quarter of 2013. The sequential increase in gross profit was primarily due to higher contribution from the Company's total solutions business. The year-over-year increase in gross profit was primarily due to higher revenue contribution from the Company's total solutions business, as well as higher module shipments and lower module manufacturing cost. Gross margin in the third quarter of 2014 was 22.9%, compared to 19.0%, in the second quarter of 2014 and 20.4% in the third quarter of 2013.

    Total operating expenses were $53.2 million in the third quarter of 2014, up 5.3% from $50.5 million in the second quarter of 2014 and 18.4% from $44.9 million in the third quarter of 2013.

    Selling expenses were $35.4 million in the third quarter of 2014, up 20.0% from $29.5 million in the second quarter of 2014 and 66.4% from $21.2 million in the third quarter of 2013. The sequential increase in selling expenses was primarily due to the increase in sales commission, shipping and handling expenses as a result of higher shipment volume. The year-over-year increase in selling expenses was primarily due to higher labor costs and higher module shipment volume.

    General and administrative expenses were $14.7 million in the third quarter of 2014, down 19.2% from $18.2 million in the second quarter of 2014 and 29.3% from $20.7 million in the third quarter of 2013. The sequential decrease in general and administrative expenses was primarily due to a $4.4 million reversal of bad-debt expense. The year-over-year decrease in general and administrative expenses was due to lower bad debt expense partially off-set by higher labor costs.

    Research and development expenses were $3.2 million in the third quarter of 2014, compared to $2.9 million in the second quarter of 2014 and $3.0 million in the third quarter of 2013.

    Operating margin was 17.1% in the third quarter of 2014, compared to 10.9% in the second quarter of 2014 and 11.3% in the third quarter of 2013.

    Interest expense was $12.0 million in the third quarter of 2014, compared to $12.8 million in the second quarter of 2014 and $11.8 million in the third quarter of 2013. The sequential decrease in interest expense was primarily due to lower interest rates and lower bank borrowings.

    Interest income in the third quarter of 2014 was $3.7 million, compared to $3.6 million in the second quarter of 2014 and $2.7 million in the third quarter of 2013.

    The Company recorded a gain on change in fair value of derivatives of $15.4 million in the third quarter of 2014, compared to a loss on change in fair value of derivatives of $3.2 million in the second quarter of 2014 and a loss on change in fair value of derivatives of $1.6 million in the third quarter of 2013. Net foreign exchange loss in the third quarter of 2014 was $20.9 million compared to a net foreign exchange gain of $7.6 million in the second quarter of 2014 and a net foreign exchange gain of $2.3 million in the third quarter of 2013.

    Income tax expense in the third quarter of 2014 was $34.4 million, compared to income tax expense of $8.3 million in the second quarter of 2014 and income tax expense of $12.4 million in the third quarter of 2013.

    Net income attributable to Canadian Solar in the third quarter of 2014 was $104.2 million, or $1.75 per diluted share, compared to net income of $55.8 million, or $0.95 per diluted share, in the second quarter of 2014, and net income of $27.7 million, or $0.56 per diluted share, in the third quarter of 2013.

    Financial Condition

    The Company had $817.2 million of cash, cash equivalents and restricted cash, as of September 30, 2014, compared to $788.3 million, as of June 30, 2014.

    Accounts receivable, net of allowance for doubtful accounts, at the end of the third quarter of 2014 were $347.3 million, compared to $382.8 million at the end of the second quarter of 2014. Accounts receivable turnover was 45 days in the third quarter of 2014, compared to 62 days in the second quarter of 2014.

    Inventories at the end of the third quarter of 2014 were $390.5 million, compared to $441.7 million at the end of the second quarter of 2014. Inventory turnover was 56 days in the third quarter of 2014, compared to 77 days in the second quarter of 2014.

    Accounts and notes payable at the end of the third quarter of 2014 were $751.7 million, compared to $756.2 million at the end of the second quarter of 2014.

    Short-term borrowings at the end of the third quarter of 2014 were $718.1 million, compared to $876.3 million at the end of the second quarter of 2014. Long-term debt at the end of the third quarter of 2014 was $146.7 million, compared to $150.1 million at the end of the second quarter of 2014. Senior convertible notes totaled $150 million at the end of the third quarter of 2014, unchanged from the end of the second quarter of 2014. Short-term borrowings and long-term debt directly related to utility-scale solar power projects totaled $163.1 million at the end of the third quarter of 2014, compared to $250.6 million at the end of the second quarter of 2014.

    Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, remarked: "Our results for the third quarter exceeded our expectations on all financial and operating metrics, led by the strength of our utility-scale solar energy business, combined with a robust performance from our module business, which continues to benefit from our Tier-1 brand, global scale, stable average selling price and broad-based growth in demand. Our team was able to close and recognize the sale of five utility-scale solar power projects in Canada, exceeding our target of four projects. We are pleased with our solid execution and expect our Canadian project pipeline will continue to deliver strong profit as we enter into 2015."

    Michael G. Potter, Senior Vice President and Chief Financial Officer of Canadian Solar, added: "This was an excellent quarter for Canadian Solar as our revenue, shipments, and net income all set quarterly records for the Company. The five Canadian project sales, combined with better than expected module ASP, and the fact that we are running near full capacity, enabled us to achieve gross margin of 22.9% in the third quarter, compared to 19.0% in the second quarter. This was well above our guidance for gross margin, which we expected to be in the range of 19% to 21%, and again demonstrates the leverage of our business model. Separately, we were pleased that our hedging strategy significantly offset the immediate effect of the strengthening U.S. dollar in the third quarter. We expect that the strength and differentiation of our business model, combined with our significantly improved balance sheet, will continue to afford us many more strategic options, as we work to build shareholder value."

    Utility Scale Project Pipeline Update

    At the end of October, the Company had a pipeline of late stage utility-scale solar projects totaling approximately 1.4 GW DC. These projects include owned and joint-venture projects as well as projects where the Company provides EPC services.

    In Canada, as previously announced, the Company closed the sale to investors of five solar power plants, Mighty Solar, Good Light, William Rutley, Liskeard 3 and Liskeard 4 totaling 50 MW AC and valued at over C$306 million. In addition, the Company substantially completed construction of two solar power projects, Taylor Kidd and Westbrook. These two projects have already been sold to investors, and most of the associated revenue from them has been recognized in the previous quarters. Currently, two of the Company's owned projects and an additional three projects being built by the Company under engineering, procurement and construction contracts are in commercial operation. The Company's late stage solar project pipeline in Ontario, Canada, now stands at approximately 386.9 MW DC, representing a revenue opportunity of approximately C$1.4 billion as the projects are built and revenue can be recognized under U.S. GAAP rules. The following table summarizes the status of the Company's solar projects in Ontario, Canada:

    Canadian Solar Developed

    MWDC

    Status

    Expected COD1


    Liskeard 1

    14.0

    Commercial Operation

    -


    Alfred

    13.6

    Permiting

    2015 Q4


    Foto Light LP

    14.0

    In Construction

    2014 Q4


    Illumination LP

    14.0

    Engineering

    2015 Q3


    Gold Light LP

    14.0

    In Construction

    2015 Q1


    Beam Light LP

    14.0

    Engineering

    2015 Q3


    Earth Light LP

    14.0

    Engineering

    2015 Q4


    Lunar Light LP

    14.0

    Engineering

    2015 Q2


    Discovery Light LP

    12.6

    In Construction

    2014 Q4


    Sparkle Light LP

    14.0

    In Construction

    2014 Q4


    GlenArm LP

    14.0

    In Construction

    2014 Q4


    Aria LP

    14.8

    Engineering

    2015 Q4


    Ray Light LP

    14.0

    Commercial Operation

    -


    City Lights LP

    14.0

    In Construction

    2014 Q4


    Oro-Medonte 4

    11.5

    In Construction

    2014 Q4


    Total Canadian Solar Developed (SALE NOT CLOSED)

    206.5




    3rdParty Developed (EPC)

    MWDC

    Status



    Penn Energy 1, 2 &3

    39.0

    Commercial Operation

    -


    Samsung Phase I

    133.6

    In Construction

    2015 Q2


    Samsung Phase II

    140.0

    In Construction

    2015 Q3


    Total EPC Projects

    312.6




    MW Recognized into Revenue in Prior Quarters

    132.2




    Total Canadian Project Backlog

    386.9




    (1) Commercial Operation Date.





    In the United States, at the end of the third quarter of 2014, the Company's late stage, utility-scale solar power project pipeline totaled approximately 84.1 MW DC compared to 105.8 MW DC at the end of the second quarter of 2014. During the third quarter of 2014, the Company completed construction of solar projects totaling 21.7 MW DC in the U.S. The table below summarizes the status of the Company's late stage pipeline in the U.S.

    US Late Stage Pipeline

    MWDC

    State

    Status

    Expected COD


    1

    6.5

    NC

    Construction

    2014-Q4


    2

    26.0

    CA

    Design and Permitting

    2015-Q3


    3

    0.2

    MA

    Design and Permitting

    2015-Q4


    4

    0.5

    MA

    Design and Permitting

    2015-Q4


    5

    28.4

    CA

    Construction

    2014-Q4


    6

    19.5

    CA

    Design and Permitting

    2015-Q2


    7

    3.0

    CA

    Design and Permitting

    2015-Q1


    Total

    84.1





    In Japan, the Company is working to increase its utility-scale solar power project pipeline to at least 540 MW DC in the fourth quarter of 2014. The Company currently has one project connected to the grid in Shibushichocho, Kagoshima Prefecture. The 1.2 MW Shibushichocho plant is expected to generate approximately 1,533 MWh of solar electricity per year, to be purchased by Kyushu Electric Power Co., Inc. under a 20 year feed-in-tariff contract at the rate of 40.00 yen ($0.37) per kWh. In addition, construction of three solar power plants totaling 28.4 MW DC is underway. The Company currently has an additional 68MW DC that are ready to build and are expected to start construction in the fourth quarter of 2014 and through 2015. The table below summarizes Company's project construction plan for Japan in the years ahead.

    Number of Projects

    Total MWdc

    FiT (Yen/kWh Average)

    Expected COD


    2 Projects

    5.6

    40.0

    2014


    29 Projects

    79.4

    36.6

    2015


    11 Projects

    214.4

    35.5

    2016


    7 Projects

    239.1

    36.2

    2017


    Total Pipeline

    538.5




    In China, the Company has started construction on several projects totaling approximately 100 MW DC in the fourth quarter of 2014. In addition, the Company continues to pursue several strategic partnership opportunities which may lead to significant pipeline growth in 2015.

    In Brazil, after the end of the third quarter of 2014, the Company won the right to develop three solar power plants totaling 114 MW DC in Vazante, in the state of Minas Gerais. Canadian Solar expects these solar power plants to be connected to the grid in 2016. Once connected to the grid, the electricity generated will be purchased by Agencia Nacional de Energia Eletrica, a Brazilian government entity, under a 20-year power purchase agreement at R$216.12/MWh ($86.42/MWh).

    The Company is also active in pursuing project opportunities in several other regions, and have identified over 200 MW of near term opportunities in Europe, Asia, Latin America and Africa, including 40 MW DC in the UK.

    Capacity Expansion Plans

    In order to meet expected strong growth in module demand from various markets, Canadian Solar plans to add 500 MW of solar module capacity at its Changshu and Luoyang plants in China. The Company expects the above mentioned module capacity to come online throughout the first quarter and second quarter of 2015. This will bring the Company's total module capacity to 3.5 GW. In addition, the construction of the Company's first 80 MW of high efficiency multi-crystalline cell line in Funing, Jiangsu Province, is progressing well and the Company expects to further expand this high efficiency cell facility to 400MW by the second quarter of 2015, bringing its total cell capacity to 1.9GW. The Company has also commenced the upgrade of its current cell lines in Suzhou, Jiangsu Province, to bring the average cell efficiency of its multi-crystalline silicon solar cell above 18%. Meanwhile, the Company plans to upgrade the furnaces at its ingot and wafer plant in Luoyang, Henan Province, expanding total wafer capacity from 260MW to 400MW in 2015.

    Business Outlook

    The Company's business outlook is based on management's current views and estimates with respect to operating and market conditions, its current order book, global and local financing environment as well as uncertainty relating to final customer demand and solar project construction schedule. Management's views and estimates are subject to change without notice.

    For the fourth quarter of 2014, the Company expects module shipments to be in the range of approximately 810 MW to 860 MW. Total revenue for the fourth quarter of 2014 is expected to be in the range of $925 million to $975 million, with gross margin expected to be between 17% and 19%. The gross margin guidance for the fourth quarter of 2014 factors in the impact of the U.S. trade case, the appreciation of the U.S. dollar, and the mix of project sales expected to close in Canada.

    For full year 2014, the Company is increasing its annual module shipment guidance to be in the range of 2.73 GW to 2.78 GW, compared to a range of 2.5 GW to 2.7 GW previously. The Company is also increasing its revenue guidance for 2014 to the range of approximately $2.93 billion to $2.98 billion, compared to a range of $2.7 billion to $2.9 billion previously.

    The estimated commercial operation date ("COD") of all of the Company's late-stage projects in Canada, the US, Japan and China is subject to change without notice as a result of delays in permitting and construction, among other risk factors. The acceptance testing and closing process for projects only starts after COD. The length of acceptance testing may be affected by solar radiation levels and other weather conditions. As a result, the transfer of ownership to end customers may not always occur in the same quarter as COD. The Company's business outlook for the fourth quarter of 2014 includes the expectation of completion of sales and revenue recognition for at least five utility-scale power projects in Canada. Due to the reasons noted, however, there is a risk that that actual results may differ from current management expectations.

    Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, remarked: "We are on-track to deliver the best year in the history of Canadian Solar, in terms of revenue and profitability and MW shipment. We expect the global solar demand to continue its growth momentum in 2015. With our strong cash and balance sheet position, and our captive pipeline of late stage utility-scale projects totaling approximately 1.4 GW DC and our global module sale coverage, we have the advantage of operating with greater visibility. This is allowing us to more efficiently allocate our capital and resources to the markets and projects capable of delivering the best returns to our shareholders. As just one visible example, we recently announced that one of Canadian Solar's wholly owned subsidiaries entered into an MOU with Sichuan Development Investment Management Ltd. to establish an investment fund to finance the development, construction and ownership of solar power generation projects in China. We expect to develop similar partnerships which will provide positive catalyst for us as we capture our share of attractive opportunities in China. In addition, the expansion of our project pipeline in Japan to 497 MW and our recent 114 MW win in Brazil, give us added confidence in our ability to both replenish and expand our global project pipeline."

    Recent Developments

    On November 10, 2014, Canadian Solar announced that its wholly owned subsidiary, Canadian Solar Solutions Inc. will provide 4 megawatt ("MW") / 2.76 megawatt/hour ("MWh") of stationary on-grid bulk energy storage to Independent Electricity System Operator to support the Ontario grid.

    On November 6, 2014, Canadian Solar announced that it won three solar photovoltaic projects totaling 114 megawatts (MW) In Vazante, in the state in Minas Gerais in Brazil. Canadian Solar, in partnership with Solatio, will develop, build and own the solar power plants which, once connected to the grid, will sell the electricity generated to the Agencia Nacional de Energia Eletrica, a Brazilian government entity, under a 20-year Power Purchase Agreement at R$216.12/MWh ($86.42/MWh).

    On October 30, 2014, Canadian Solar announced that it completed the supply of 3.1 MW of CS6X-300P modules to a solar power project in Tipitapa, Nicaragua. This plant, named Planta Solar Zona Franca Astro Nicaragua, will power 26 companies and supply approximately 30% of total energy consumption for the Zona Franca Astro Nicaragua industrial park.

    On October 20, 2014, Canadian Solar announced that it would introduce a new, groundbreaking Diamond module at the Solar Power International (SPI) exhibition. The Diamond module, also known as the double glass module, utilizes heat-strengthened glass instead of the traditional polymer backsheet. The Diamond module is Potential Induced Degradation ("PID") free with anti-PID cells and encapsulated material. With no metal module frame, the Diamond glass module does not require grounding, thereby eliminating the cause of PID.

    On October 15, 2014, Canadian Solar announced that it had executed a sales contract to supply photovoltaic modules to two utility-scale projects totaling 146.4 MWp in Honduras.

    On October 13, 2014, Canadian Solar announced that it has closed a sales agreement with EDF Renewable Energy, to supply photovoltaic modules to the 24.3 MWp Catalina Solar 2 project during the first quarter of 2015.

    On October 9, 2014, Canadian Solar announced that it supplied Conti / SunDurance with 10 MW of photovoltaic modules during the third quarter of 2014.

    On October 8, 2014, Canadian Solar announced that Manufacturer's Life Insurance Company had agreed to provide approximately C$51 million (US$46 million) in construction and term financing to Canadian Solar for the RayLight solar power plant located in Wyebridge, Ontario. The RayLight project will be acquired by Concord Green Energy Inc. after commercial operation.

    On October 2, 2014, Canadian Solar announced that its wholly owned subsidiary, Canadian Solar Solutions Inc., closed the sale of three solar power plants, William Rutley, Liskeard 3 and Liskeard 4, totaling 30 MW AC and valued at over C$180 million ($161.2 million) to TransCanada Corporation.

    On September 23, 2014, Canadian Solar announced the completion of the 1.2 MW DC solar photovoltaic power plant at Shibushichocho, Kagoshima Prefecture in Japan. Powered by Canadian Solar CS6P-255P modules, the plant will generate approximately 1,533 MWh of clean, emission-less solar electricity per year. The electricity generated from the project will be purchased by Kyushu Electric Power Co., Inc. under a 20 year feed-in-tariff contract at the rate of 40.00 yen ($0.37) per kWh.

    On September 16, 2014, Canadian Solar announced that it was awarded a photovoltaic module supply agreement to provide 1.5 MW of photovoltaic ("PV") modules to Kawar Energy for a rooftop solar power project located in a university in Amman, Jordan.

    On September 10, 2014, Canadian Solar announced that its wholly owned subsidiary, Canadian Solar Solutions Inc., completed the sale of the 10 MW AC Mighty Solar power plant valued at over C$60 million ($54.9) to One West Holdings Ltd., an affiliate of Concord Green Energy. The Mighty Solar 10 MW AC solar power plant is located in the town of Chesterville, Ontario.

    On September 8, 2014, Canadian Solar announced that a wholly owned subsidiary of the Company had entered into an agreement with Sichuan Development Investment Management Ltd. to establish an investment fund to finance the development, construction and ownership of solar power generation projects in China.

    On September 2, 2014, Canadian Solar announced that it supplied Conti / SunDurance with 11 MW of photovoltaic modules during the second quarter of 2014.

    On August 20, 2014, Canadian Solar announced that its wholly-owned subsidiary, Canadian Solar Solutions Inc., completed the sale of Good Light, a 10 MW AC solar power plant located in the town of Kawartha Lakes, Ontario, valued at over C$66.0 million ($60.3 million) to a BluEarth Renewables Inc. subsidiary.

    Sentiment: Strong Buy

  • This is going to be huge for Chinese Wind and Solar................
    Oped (john Kerry in NY Times):

    Our target builds on the ambitious goal President Obama set in 2009 to cut emissions in the range of 17 percent below 2005 levels by 2020. We are on track to meet that goal, while creating jobs and growing the economy, with the help of a burgeoning clean energy sector. Since the president took office, wind energy production has tripled and solar energy has increased by a factor of ten. This summer, the Environmental Protection Agency proposed the first carbon pollution standards for existing power plants, which account for a third of United States carbon pollution.

    The Chinese targets also represent a major advance. For the first time China is announcing a peak year for its carbon emissions – around 2030 – along with a commitment to try to reach the peak earlier. That matters because over the past 15 years, China has accounted for roughly 60 percent of the growth in carbon dioxide emissions world-wide. We are confident that China can and will reach peak emissions before 2030, in light of President Xi’s commitments to restructure the economy, dramatically reduce air pollution and stimulate an energy revolution.

    China is also announcing today that it would expand the share of total energy consumption coming from zero-emission sources (renewable and nuclear energy) to around 20 percent by 2030, sending a powerful signal to investors and energy markets around the world and helping accelerate the global transition to clean-energy economies. To meet its goal, China will need to deploy an additional 800 to 1,000 gigawatts of nuclear, wind, solar and other renewable generation capacity by 2030 – an enormous amount, about the same as all the coal-fired power plants in China today, and nearly as much as the total electricity generation capacity of the United States

    Sentiment: Strong Buy

  • daggidoodle by daggidoodle Nov 11, 2014 5:16 PM Flag

    Someone just bought 2682 33.50 call for this week. Half million dollar very BULLISH bet.

    Sentiment: Strong Buy

  • daggidoodle daggidoodle Nov 9, 2014 6:11 PM Flag

    Unfortunately Sierra World Equity Review is not a reputable source of information.

    Sentiment: Strong Buy

  • By John Parnell

    06 Nov 2014

    Largest PV plant in Europe planned for France

    Plans for a 300MW PV park near Bordeaux, have been unveiled.

    Developer Neoen has raised #$%$360 million (US$449 million) for the project, which expects to connect to the grid in October 2015. The company claims it would be the largest in Europe.

    Xavier Barbaro, president of Neoen called the project “a new page in the history of renewable energy development in France”.

    The solar park will be split between a number of individual projects.

    In a statement released by the company Barbaro said: “These plants form the largest photovoltaic park in Europe, and will also be among the most competitive, demonstrating the capacity of solar PV to play a prominent role in the mix French and European energy. We are also particularly pleased that a French consortium ensures the construction of this park.”

    Power from the development will be sold at #$%$105/MWh (US$131/MWh) for 20 years.

    Barbaro told Reuters that although it would be constructed by a consortium of French firms, including Schneider Electric, panels would be supplied by Canadian Solar, Yingli and Trina.

    Sentiment: Strong Buy

  • Reply to

    NEXT WEDNESDAY BABY !!!!

    by daggidoodle Nov 6, 2014 5:30 PM
    daggidoodle daggidoodle Nov 6, 2014 6:40 PM Flag

    Canadian Solar may be quiet until the big day now. We know very well what we are holding on to here with CSIQ. Best wishes treene and all shareholders.

    Sentiment: Strong Buy

  • daggidoodle by daggidoodle Nov 6, 2014 5:30 PM Flag

    Canadian Solar rocks the market '-)

    Sentiment: Strong Buy

  • a good way to start the week

    Sentiment: Strong Buy

  • daggidoodle daggidoodle Nov 3, 2014 8:44 AM Flag

    buylow it is best to put those posters immediately on ignore since they offer nothing of value to investors. This is a deliberate attempt to sabotage the meaningful dissemination of information and eliminate discussion. Thank God for the ignore button.

    Sentiment: Strong Buy

CSIQ
27.99+0.42(+1.52%)11:39 AMEST

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