{"id":1290,"date":"2023-07-27T10:26:00","date_gmt":"2023-07-27T01:26:00","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=1290"},"modified":"2023-07-26T10:29:28","modified_gmt":"2023-07-26T01:29:28","slug":"canadian-solars-subsidiary-csi-solar-executes-on-capacity-additions-across-its-solar-supply-chain%ef%bf%bc","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2023\/1290.html","title":{"rendered":"CANADIAN SOLAR&#8217;S SUBSIDIARY CSI SOLAR EXECUTES ON CAPACITY ADDITIONS ACROSS ITS SOLAR SUPPLY CHAIN"},"content":{"rendered":"\n<p>GUELPH, ON,&nbsp;July 19, 2023&nbsp;\/PRNewswire\/ &#8212;&nbsp;<a href=\"http:\/\/www.canadiansolar.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Canadian Solar Inc.<\/a>&nbsp;(the &#8220;Company&#8221; or &#8220;Canadian Solar&#8221;) (NASDAQ: CSIQ), today announced that its majority-owned subsidiary&nbsp;CSI Solar Co., Ltd.&nbsp;(&#8220;CSI Solar&#8221;) has entered into a multi-year investment agreement with the municipal government of&nbsp;Hohhot, in&nbsp;Inner Mongolia,&nbsp;China, to invest and execute on its previously announced capacity expansion and vertical integration plans.&nbsp;<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>The initial phase of the\u00a0investment\u00a0includes\u00a020\u00a0GW of ingot,\u00a040\u00a0GW of crucible, 10 GW of wafer, 10 GW of cell, 5 GW of module and 5 GW of ancillary products\u00a0manufacturing\u00a0capacities. The ingot capacity is expected to commence production in\u00a0March 2024, and the remaining capacities are expected to start production in the second half of 2024. Total capital expenditures for the initial phase of this investment is expected to be around RMB11.5 billion\u00a0(approximately US$1.6 billion), most of which will occur in 2024.\u00a0<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><a rel=\"noreferrer noopener\" href=\"https:\/\/www.linkedin.com\/in\/shawnqu\/\" target=\"_blank\"><strong>Dr.\u00a0Shawn Qu<\/strong><\/a><strong>, Chairman and CEO of\u00a0Canadian Solar<\/strong>, commented, &#8220;We are building new solar manufacturing capacity with cutting-edge technologies to meet the strong demand from our customers.\u00a0Inner Mongolia\u00a0has plenty of wind and solar resources and the local renewable energy penetration is increasing steadily, helping us reduce the carbon footprint of our supply chain. In addition,\u00a0Inner Mongolia\u00a0has abundant supply of power, polysilicon, and quartzite.\u00a0By further increasing the level of vertical integration throughout our manufacturing processes, we gain greater control over technology, cost, and supply chain and build on our long-term competitive advantage.&#8221;\u00a0<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>In addition,&nbsp;Canadian Solar&#8217;s&nbsp;previously announced polysilicon investment in&nbsp;Qinghai, China, has not launched as planned due to changes related to local power supply. All investment projects are subject to change at the Company&#8217;s discretion based on market and strategic considerations.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GUELPH, ON,&nbsp;July 19, 2023&nbsp;\/PRNewswire\/ &#8212;&nbsp;Canadian Solar Inc.&nbsp;(the &#8220;Company&#038;#82 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1290","post","type-post","status-publish","format-standard","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/comments?post=1290"}],"version-history":[{"count":3,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1290\/revisions"}],"predecessor-version":[{"id":1294,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1290\/revisions\/1294"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=1290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=1290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=1290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}