Photovoltaic giant's US factory officially opened

  According to foreign media reports, recently, Canadian Solar officially opened its 5GW factory in Texas, USA. The factory mainly produces photovoltaic modules based on TOPCon battery technology.

  On June 16, 2023, Canadian Solar announced that it is building a photovoltaic module factory with a production capacity of 5GW in Mesquite, Texas, with an investment of more than US$250 million, and it is expected to be put into production around the end of 2023.

  In the 2023 annual report, Canadian Solar mentioned the progress of the factory: In accordance with the needs of global strategic development and overseas capacity planning, the company has established a 5GW N-type new technology photovoltaic module factory in Mesquite, Texas, USA. The factory has officially started production in 2023 and has recently started delivering 210-size products. It is expected to be fully produced in 2024 and is the leader among the top photovoltaic companies.

  This time, Canadian Solar announced the official opening of the Texas factory, perhaps because the factory can run at full capacity. At present, the factory may use solar cells produced by Canadian Solar in Southeast Asia.

  At the same time, Canadian Solar's solar cell factory in the United States is also under intensive construction.

  At the end of October 2023, Canadian Solar announced that it would invest in a 5GW high-efficiency N-type cell project in Jeffersonville, Indiana, with a planned total investment of approximately US$839 million, and is expected to be put into production by the end of 2025.

  According to this plan, Canadian Solar will have a 5GW battery module production capacity in the United States in 2025, and will further improve its performance by taking the lead in deploying high-value markets.

  In 2023, Canadian Solar achieved revenue of 51.31 billion yuan, a year-on-year increase of 7.94%; net profit attributable to shareholders was 2.903 billion yuan, a year-on-year increase of 34.61%. The annual module shipment volume was 30.7GW, and the delivery scale was at the leading level in the industry.

  It is expected that by the end of December 2024, the production capacity of Canadian Solar's silicon rods, silicon wafers, batteries and modules will reach 50.4GW, 50.0GW, 55.7GW and 61.0GW respectively.