Canadian Solar Inc.
(
CSIQ
) has supplied its CS6P-P solar power modules to Engineering,
Procurement and Construction Contractor TSK Solar for the "San
Fermin" solar power plant. The solar power plant with a generation
capacity of 26 MW is developed by TSK Solar in collaboration with
Uriel Renewables inc. and Coqui Power LLC.
TSK Solar power plant is located in the North Eastern town of Loiza
in Puerto Rico. This region is very much prone to hurricanes,
tropical storms and flooding. The power plant will use Canadian
Solar's high quality and high-performing CS6P-P solar power modules
to combat these weather hurdles. Driven by the nature and
location of the project, the electrical equipments are installed
two to four meters above ground. They are well-designed to resist
winds with a speed of up to 260 kilometers per hour.
San Fermin solar power plant project is the first photovoltaic
project in Puerto Rico that will meet the technical requirements of
the Puerto Rico Electric Power Authority. The electrical frequency
of the plant is variable and its voltage can be regulated even in
case of abrupt fluctuations in solar intensity. The project is
expected to be completed, and connected to the national grid by
December 2012.
The CS6P-P solar power modules feature a positive power tolerance
in the range of 0 to 5W, has a robust frame to up to 5400 PA load
anti-reflective with self-cleaning surface, exceptional performance
at low irradiance and high energy yield at low Nominal Operating
Cell Temperature ("NOCT"). Besides these features, the company has
a product warranty of 10 years on materials and workmanship and a
25 year warranty on linear power output. Above all, it recently
received the highest PV USA (PTC) ratings that prove that it is a
universally recognized indicator of a solar system's real
performance and power output.
As a result of its brilliant features, CS6P-P solar power modules
stay in high demand. Last month, the company had made an
announcement for the supply of its CS6P-P modules for Turkey's
first and largest governmental solar PV project, which will be
installed by Gehrlicher Merk Solar. In May this year, the company
had supplied 3.3 MW of CS6P-P modules solar modules for a PV
project in Bulgaria.
The other peer solar companies also seem busy in solar module
supply agreements in which they are specialized. One of the
company's peers
ReneSola Ltd.
(
SOL
) had recently entered into an agreement with Cummings Properties
for the supply of 512 kilowatts ("kW") of its high-quality, and
high-efficiency solar modules. Further, ReneSola had announced that
its high-wattage 300 W and 305 W 72-cell poly line is ready for
delivery from its east and west coast storehouses in the United
States.
Canadian Solar is a vertically-integrated manufacturer of silicon
ingots, wafers, cells, solar modules (panels) and custom-designed
for solar power applications. The company designs, manufactures and
delivers solar products and solar system solutions for both on-grid
and off-grid use to customers worldwide.
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. The
company's other major source of revenue is the implementation of
solar power development projects in rural areas of China, primarily
in conjunction with government organizations.
However, we prefer to remain on the sidelines due to the
industry-wide oversupply that leads to sharp fall in Average
Selling Prices, tepid module demand in Europe and rising
competition in the market. Given the industry wide high inventory
level, we do not foresee any short-term improvement in margins for
the company. The company presently retains a short-term Zacks #3
Rank (Hold) that corresponds with our long-term Neutral
recommendation on the stock.
CANADIAN SOLAR (CSIQ): Free Stock Analysis
Report
RENESOLA LT-ADR (SOL): Free Stock Analysis
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