Global solar manufacturer,
Canadian Solar Inc.
) announced its partnership venture with US based private
contractor, PetersenDean, for the development of a new roofing
program. PetersenDean, a well-positioned roofing company, will
leverage its strengths to improve the installation quality and
costs for a new residential solar project in California.
Canadian Solar, on previous occasions, was involved in a string
of ambitious solar contracts. The company's subsidiary, Canadian
Solar Australia, entered into a 20 Megawatt (MW) module supply
agreement with solar distribution company, REDSET. The company also
recently, announced its decision to deliver 26MW of CS6P-P solar
power modules for the "San Fermin" solar power plant installed in
Puerto Rico by EPC Contractor TSK Solar.
With increasing preference towards eco-green products and
services witnessed in the developed countries like the U.S.,
Canadian Solar is expected to capitalize from this rising demand
for solar energy. We believe these multiple projects would fetch
lucrative returns for the company and strengthen Canadian Solar's
position in the worldwide renewable markets.
Canadian Solar's high-quality modules and efficient services
have helped in bringing solar power effectively to consumers as
well as producers. With this new roofing program, the company would
be able to provide easy and reliable solar services to the
consumers countrywide, thereby expanding consumer footprint and
adding to near-term top-line. However, ongoing economic depression
in the European market could limit Canadian Solar's future business
Canadian Solar, for the third quarter 2012, estimates export
volumes to be in the range of 390 MW to 420 MW and expects gross
margin to be between 2% and 5%. The company's export volumes for
2012 are expected in the range of roughly 1,800 MW to 2,000 MW of
The Zacks Consensus Estimates for the third quarter and full
year 2012 are currently pegged at a loss of 63 cents per share and
a loss of $1.90 per share, respectively. Numbering among its
competitors is Arizona-based
). FirstSolar announced its plans to build four solar plants for
New Mexico-based utility company,
PNM Resources, Inc.
). The aggregate capacity generation from these plants will be
around 20 MW and are expected to come online by the end of
Based in Guelph, Canada, Canadian Solar along with its
subsidiaries, engages in the design, development, manufacture, and
sale of solar power products in Canada and internationally. The
company has a Zacks #3 Rank (Hold rating).
CANADIAN SOLAR (CSIQ): Free Stock Analysis
FIRST SOLAR INC (FSLR): Free Stock Analysis
PNM RESOURCES (PNM): Free Stock Analysis Report
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