Thursday, November 6, 2014

Canadian Solar Plans Capacity Boost on Emerging-Market Strength

Article Abstract:
  Nov 6, 2014 1:02 AM PT

Canadian Solar Inc. (CSIQ), the world’s third-biggest solar-panel maker, will boost capacity next year on expectations of growth in emerging markets.
China won’t be the only pillar” for global installations, Chief Executive Officer Shawn Qu said today in an interview from the Chinese coastal city of Wuxi, where he’s attending an industry gathering. “Other markets are emerging” and getting larger, such as India, Thailand, Chile, Brazil and Mexico.
Canadian Solar, based in the country’s Ontario province, in August reported record earnings and sales, benefiting from strong demand in North America, Japan, and China. The company is expanding its higher-margin power-plant business, which contributed about one-third of revenue in the second quarter, up from about 27 percent in the first, Qu said at the time.
The company plans to add as much as 500 megawatts to panel capacity next year, boosting its total panel capacity to 3.5 gigawatts, Qu said.

Visit http://www.bloomberg.com/ for more great articles.

3 comments: