Canadian Solar Australia, a wholly owned subsidiary of
Canadian Solar Inc.
) has entered into an agreement to supply solar modules to REDSET.
Per the deal, Canadian Solar will deliver more than 20 MW of
high-performance solar modules per annum to REDSET.
REDSET is engaged in distributing solar products, serving a system
of over 1,000 licensed installers across Australia. It has
storehouses in Adelaide, Brisbane, Melbourne, Perth, Sydney and
Townsville, where the experienced solar power experts provide
support to local installers. REDSET will use the solar modules to
power a range of commercial and residential installations.
Canadian Solar caters to a geographically-diverse customer base
spread across its key markets in Germany, Spain and the U.S., as
well as the emerging market in France, the Czech Republic, Italy,
South Korea, Canada, Japan and China.
Recently, Canadian Solar 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. A few
days back, the company was chosen to supply solar modules to
Turkey's first and largest governmental solar PV project. Canadian
Solar will supply these products to Gehrlicher Merk Solar Enerji
A.S., which is an equally owned JV between German photovoltaic
company, Gehrlicher Solar AG and Turkish Akfel Group.
Canadian Solar is a vertically-integrated manufacturer of silicon
ingots, wafers, cells, solar modules and custom-designed 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's standard
solar modules are manufactured on general specifications for use in
various residential, commercial, and industrial solar power
However, in the near term, we are concerned regarding the
industry-wide oversupply, leading to a sharp fall in Average
Selling Prices, tepid module demand in Europe and rising
competition in the market.
Like its peers
LDK Solar Co. Ltd.
), the company presently retains a short-term Zacks #3 Rank (Hold)
that corresponds with our long-term Neutral recommendation on the
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