Canadian solar cell manufacturer Canadian Solar Inc. (CSIQ) received a contract to supply 1.5 MW of photovoltaic (PV) modules to Kawar Energy. Kawar Energy will install these solar modules in a rooftop solar power project located in a university in Amman, Jordan. Kawar Energy is part of Kawar Group, a leading privately owned business group, with headquarters in Jordan and operating in the Middle East and North Africa.
Alternate energy has started to make inroads into the global dominance of fossil fuel based power generation. The solar space is highly competitive and is dominated by Chinese operators like Yingli Green Energy Holding Co. Ltd. (YGE) and JinkoSolar Holding Co., Ltd. (JKS) and U.S.-based operators like FirstSolar Inc. (FSLR), among others.
Canadian Solar is a leading operator in the photovoltaic modules production space, primarily due to the quality and high efficiency modules it manufacturers. The company will be supplying its high efficiency 72 cell CS6X300P modules with power output of 300Wp for the Jordanian project.
All leading solar cell manufacturers are on the lookout for opportunities in the emerging markets. These markets primarily comprise the Asia-Pacific region with China, India and Japan being the key destination for the global giants.
China is targeting to install 70 Gigawatts (GW) of solar power by 2017; India is aiming to install 20GWs of solar power by 2022; and Japan is stepping up its solar panel installation post the deactivation of its nuclear reactors after the Fukushima disaster. We believe this Zacks Rank #1 (Strong Buy) stock will play an important role in contributing to green energy generation in these regions.
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