Canadian Solar (NASDAQ: CSIQ), one of the world’s largest solar power companies, said May 28 that its utility-scale solar project pipeline in Ontario, Canada, totals 29 projects and is equivalent to approximately 400 MW (dc).
The company, in announcing its first quarter results, said that three of these Canadian projects – Brockville 1, William Rutley and Brockville 2 – have reached commercial operation and are in the acceptance testing phase before completing the sale to an investor. One other project, Burritts Rapids, is expected to reach commercial operation in the next two weeks.
In addition to these four projects, the company currently expects to complete another five projects in 2013, eighteen in 2014 and two in 2015. Canadian Solar estimates that the resale value of its Ontario project pipeline, once built into grid-connected solar power plants and sold to investors, will exceed C$1.5bn.
In addition to its own projects, the company is currently building three solar power plants in Ontario, Canada, totaling 29 MW (dc), as Engineering, Procurement and Construction (EPC) contractor. The company expects to complete these projects in the second half of 2013.
In the U.S. market, Canadian Solar’s utility-scale project pipeline totals about 255 MW (dc). During the first quarter of this year, the company completed a 6.5-MW solar power plant in North Carolina in partnership with Strata Solar.
Subsequently, the company announced the completion of two 1 MW (AC) solar plants in Sterling, Mass., with INDU, a strategic partnership between Duke Energy Renewables and Integrys Energy Services. Currently four solar plants totaling about 23.5 MW are under construction, and the company expects to complete construction of solar plants totaling 100 MW (dc) in the U.S. in fiscal 2013.
In Japan, Canadian Solar’s utility-scale solar power project pipeline is about 125 MW, including about 50 MW of self-developed projects, and 75 MW through co-development or acquisitions. The company said it is making feasibility assessments for around 400 MW of additional utility-scale solar projects in early stages of development. The company hopes to obtain final approval for some of its Japanese utility-scale solar power projects during 2013 and begin construction of its first solar project in Japan in late 2013 to early 2014.
In China, the company is building a 30-MW solar power project that is expected to be completed in the fourth quarter of 2013 or early in 2014.
Founded in 2001 in Canada, Canadian Solar is one of the world’s largest solar power companies. As a leading vertically integrated provider of solar modules, specialized solar products and solar power plants with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia, Canadian Solar said it has delivered more than 4 GW of premium quality solar modules to customers in over 50 countries.