LONDON, UK / ACCESSWIRE / January 31, 2018 / Active-Investors.com has just released a free research report on Canadian Solar Inc. (NASDAQ: CSIQ). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CSIQ as the Company's latest news hit the wire. On January 29, 2018, Canadian Solar, one of the world's largest and foremost solar power companies, declared that it has signed a partnership agreement with Amsterdam-based solar power solutions and services Company Photon Energy N.V. for co-developing five utility-scale solar power projects in New South Wales, Australia. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Canadian Solar most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Terms and Conditions of the Agreement
- As per the agreement, Canadian Solar will acquire 51% shareholding in all five project companies of Photon Energy in Australia, which have a total of 1.14 GWp (Gigawatts peak) of projects.
- This portfolio comprises the 316 MWp (Megawatt peak) project in Gunning, which is fully owned by Photon Energy and four projects co-developed by Photon Energy with Polpo Investment. These four projects include the 178 MWp project in Mumbil, the 165 MWp project in Gunnedah, the 286 MWp project in Suntop, and the 196 MWp project in Maryvale.
- However, the equity contributed by Canadian Solar would be subject to several development milestones, and joint management processes and other terms customary for project co-development.
- Besides, the agreement also covers the development budgets to bring all five projects to the ready-to-build stage.
- Photon Energy will hold a 49% stake in the Gunning project and 24.99% stakes in the four other projects post the transaction.
Partnership Agreement to Strengthen Canadian Solar's Market Leading Position
Canadian Solar has developed a geographically diversified pipeline of utility-scale power projects in various stages of development since its inception in 2001. In the last 16 years, it has achieved a leadership position in the manufacturing of solar photovoltaic modules and solar energy solutions. So far, the Company has delivered more than 25 GW (Gigawatts) of premium quality modules to over 100 countries around the world. In fact, it is one of the most bankable Companies in the solar industry, having been publicly listed on NASDAQ since 2006.
Dr. Shawn Qu, the Chairman and Chief Executive Officer at Canadian Solar said that Canadian Solar is delighted to partner with Photon Energy and thereby bring 1.14 GWp into the Australian market. He believes that the partnership agreement with Photon Energy will help strengthen the Company's leading position in the Australian market by making it a very active developer for solar power plants in the country.
A Tangible Achievement for Photon Energy
Photon Energy is a global solar power solution and services Company covering the entire lifecycle of solar power systems. Georg Hotar, the CEO of Photon Energy, stated that this agreement is the result of Photon Energy's long-term commitment to the Australian market. He believes it is an important milestone for the Company and especially the Australian team, who have gained the trust of a leading global player in the solar industry such as Canadian Solar.
Stock Performance Snapshot
January 30, 2018 - At Tuesday's closing bell, Canadian Solar's stock fell 2.62%, ending the trading session at $15.61.
Volume traded for the day: 594.40 thousand shares.
Stock performance in the past twelve-month period – up 32.85%
After yesterday's close, Canadian Solar's market cap was at $896.48 million.
Price to Earnings (P/E) ratio was at 37.71.
The stock is part of the Technology sector, categorized under the Semiconductor - Specialized industry.
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