Canadian Solar Incorporation (CSIQ) has announced its agreement with Fire Energy Group to supply 100 megawatts (MW) of solar modules, which will be delivered through 2011. The companies have agreed to adjust the prices of solar modules in every quarter.
Under this agreement Canadian Solar will supply a mix of its 60-cell CS6P and the CS6V large-format modules to be used in a variety of rooftop and ground-mounted applications of Fire Energy Group. This new agreement will extend and strengthen the working relation of these two companies begun a few years back.
The previous contract between Canadian Solar and First Energy Group was broached in January last year, when Canadian Solar agreed to supply 60MW of PV modules to Fire Energy in 2010.
In April 2011, Canadian Solar supplied 35,000 high quality CS6P 230 Watt solar modules to the solar plant constructed by EOSOL Energies and the Caisse des depots et consignations in Villeneuve de Marsan, Aquitaine, France. The modules will help to generate more than 8 MW of green power and lower emission of 9,180 tons of carbon dioxide.
Canadian Solar's earnings per share in the fourth quarter and fiscal year 2010 were lower than the Zacks Consensus Estimates but its shipments for 2010 were 803 MW, substantially higher than the 2009 level of 310 MW. The company presently expects its shipments in 2011 to surpass 2010 levels and presently pegs it at the 1,200 MW–1,300 MW range.
We maintain a long-term Neutral rating on Canadian Solar. The company competes with JinkoSolar Holding Company (JKS) and SunPower Corporation (SPWRA).
Based in Markham, Canada, Canadian Solar Incorporation, together with its subsidiaries, engages in the design, development, manufacture and marketing of solar cell and solar module products that convert sunlight into electricity for various domestic and international uses.
CANADIAN SOLAR (CSIQ): Free Stock Analysis Report
JINKOSOLAR HLDG (JKS): Free Stock Analysis Report
SUNPOWER CORP-A (SPWRA): Free Stock Analysis Report
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