Canadian Solar Inc.
) have been selected by Comet Solar for its solar project located
in the Leeward Islands in the West Indies - the largest
commercial photovoltaic (PV) project permitted by the St. Kitts
& Nevis government to date.
The 600 kilowatt solar project will be developed by
Anguilla-based installation firm Comet Solar on behalf of SL
Horsford, a trading, service and manufacturing company. The
project covers eight of the company's buildings, comprising
supermarkets, which have a high refrigeration load.
The project poses a stiff challenge to Comet Solar given the
remote location. The buildings range from steel to concrete roofs
with a mix of British and American electrical systems and
voltages that make installation difficult.
Canadian Solar caters to a geographically-diverse customer base
spread across its key markets in Germany, Spain and the U.S., as
well as emerging market opportunities in France, the Czech
Republic, Italy, South Korea, Canada, Japan and China. Recently,
modules of Canadian Solar were chosen by Argand Energy Solutions
for their solar project located in Louisburg, NC. In
collaboration with Horne Brothers Construction, Inc., Argand
Energy Solutions began construction of the 2.3 megawatt (MW)
project in Jun 2013. System grid connection is scheduled this
Again, Canadian Solar also received a contract to supply 91 MW of
its CS6X PV modules to Asia-based solar power provider Soleq
Solar (Thailand) Co Ltd. for solar power projects in Thailand.
Canadian Solar is a low-cost, vertically-integrated solar module
producer with predominantly China-based manufacturing assets. The
prospects for Canadian Solar look favorable based on a
geographically-diverse customer base and improving operating
efficiencies through its vertically-integrated manufacturing
The company's drive towards escalating its business globally
through multiple ventures is expected to support its extensive
growth objectives. This latest supply deal supports this
endeavor. It also helps to nullify the effect of anti-dumping
duties leveled on Chinese module makers in the U.S.
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The company presently retains a Zacks Rank #3 (Hold). However,
other companies that look favorable in the space include Zacks
Ranked #1 (Buy) peers
JinkoSolar Holding Co. Ltd.
), as well as a Zacks Ranked #1 (Strong Buy) company