Canadian Solar (NASDAQ:CSIQ), one of the world’s largest solar power companies, today announced the sale of the 10 MW AC GoldLight (“GoldLight”) solar power plant to an affiliate of DIF Infrastructure III (“DIF”). This solar power plant is valued at over CAD$68 million (US$54 million) and uses approximately 46,800 of Canadian Solar’s CSX6-300|305|310P panels. The GoldLight plant is located in the Town of Georgina, Ontario, Canada. It reached commercial operation on January 30, 2015, and will sell electricity pursuant to a 20-year Ontario Power Authority feed-in tariff contract.
“The GoldLight project represents another attractive addition to DIF’s growing portfolio of North American renewable energy projects. DIF’s relationship with Canadian Solar has been a key contributor to our expansion,” said Paul Huebener, Head of DIF Americas.
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, “We are pleased to announce the completion of the GoldLight power plant sale, one of several transactions between Canadian Solar and DIF. Our successful cooperation with DIF highlights our shared commitment to expanding the use of renewable solar energy in North America.” (Original Source)
Shares of Canadian Solar closed last Friday at $34.48 . 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 $31.40 and it’s 200-day moving average is $28.42.
On the ratings front, Canadian Solar has been the subject of a number of recent research reports. In a report issued on March 6, Standpoint Research analyst Ronnie Moas downgraded CSIQ to Hold. Separately, on January 5, Roth Capital’s Philip Shen maintained a Buy rating on the stock and has a price target of $40.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ronnie Moas and Philip Shen have a total average return of 9.1% and -2.7% respectively. Moas has a success rate of 72.2% and is ranked #16 out of 3558 analysts, while Shen has a success rate of 38.9% and is ranked #3171.
Canadian Solar Inc is a solar power company. The Company designs, develops, and manufactures solar wafers, cells and solar power products.