Canadian Solar Inc. (NASDAQ:CSIQ), one of the world’s largest solar power companies, today announced that it completed construction and grid connection of three of its solar photovoltaic (PV) power plants inJapan, with a total of approximately 5.2 MWp, including the 2.2 MWp Tsukuba Stones Solar Power Plant in Kasama City, Ibaraki Prefecture, the 2.0 MWp Tomigaoka Solar Power Plant in Isa City, Kagoshima Prefecture, and the 1.0MWp Isa City Solar Power Plant in Isa City, Kagoshima Prefecture.

The 2.2 MWp Tsukuba Stones Solar Power Plant was connected to the grid on June 26, 2015. Powered by 8,448 Canadian Solar CS6P-260P modules, it will generate approximately 2,474 MWh of clean, emission-less solar electricity every year and the electricity generated from this project will be purchased by Tokyo Electric Power Co., Ltd. under a 20 year feed-in-tariff contract at the rate of JPY40.00 ($0.33) per kWh.

The 2.0 MWp Tomigaoka Solar Power Plant was connected to the grid on June 29, 2015.  Powered by 7,920 Canadian Solar CS6P-255P modules, it will generate approximately 2,415 MWh of clean, emission-less solar electricity every year and 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 JPY36.00 ($0.30) per kWh.

The 1.0 MWp Isa City Solar Power Plant was connected to the grid on June 9, 2015. Powered by 3,654 Canadian Solar CS6P-255P modules, it will generate approximately 1,175 MWh of clean, emission-less solar electricity every year and 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 JPY40.00 ($0.30) per kWh.

“We are very pleased to announce the successful completion and grid connection of these three projects, which well demonstrates the execution ability of our local project development and EPC teams in Japan,” commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc., “We are well on track to complete more projects in the quarters ahead in this important market that is expected to make an important contribution to our planned YieldCo.” (Original Source)

Shares of Canadian Solar closed last Friday at $26.55. CSIQ has a 1-year high of $41.12 and a 1-year low of $18.68. The stock’s 50-day moving average is $29.99 and its 200-day moving average is $30.58.

On the ratings front, Canadian Solar has been the subject of a number of recent research reports. In a report issued on June 16, Nomura analyst Nitin Kumar reiterated a Buy rating on CSIQ, with a price target of $46, which represents a potential upside of 73.3% from where the stock is currently trading. Separately, on June 1, FBR’s Aditya Satghare reiterated a Buy rating on the stock and has a price target of $45.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Nitin Kumar and Aditya Satghare have a total average return of 51.2% and -6.9% respectively. Kumar has a success rate of 44.0% and is ranked #161 out of 3712 analysts, while Satghare has a success rate of 47.4% and is ranked #3318.

Canadian Solar Inc is a solar power company. The Company designs, develops and manufactures solar wafers, cells and solar power products.