Stock News Buzz: Canadian Solar Inc. (NASDAQ:CSIQ) completed the sale of a 10.8 MWp operating solar power plant

On Monday Canadian Solar Inc. (NASDAQ:CSIQ) stock recorded daily change of 0.37% to close at $16.41 with the total traded volume of 775191 shares along average volume of 988631 shares 52 week range of the stock remained $ 13.46 – 25.89 while its day low price was $16.27 and its hit its day high price at $16.71. Its previous closing value stands at $16.35. CSIQ total market capitalization is $975361160. Currently stocks EPS is $3.56 while its price to earnings ratio is 4.61.

On Dec. 2, 2019, Canadian Solar Inc. (NASDAQ:CSIQ) one of the world’s largest solar power companies,  revealed that it has completed the sale of a 10.8 MWp operating solar power plant in Izu-shi, Shizuoka Prefecture to Canadian Solar Infrastructure Fund (CSIF, Tokyo Stock Exchange ticker 9284) for JPY4,569 million (US$42.1 million).

The Izu-shi solar power plant is powered by 30,202 Canadian Solar KuMax modules. It reached commercial operations in December 2018 and has been selling power to Tokyo Electric Power Co. under a 20-year feed-in-tariff contract at the rate of JPY36.0 (US$0.33)/kWh.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc. commented, We are pleased to successfully complete another asset sale to CSIF. We are confident this transaction will enhance CSIF’s existing high-quality portfolio and provide accretive growth in their cash flow and energy production. The size of the listed infrastructure sector in Japan has more than doubled over the last two years, and along with that growth, CSIF has seen an increase in asset valuations.

In Japan, Canadian Solar’s late-stage portfolio of ready to build, under construction or operational projects stand at approximately 217 MWp with a weighted-average FIT of JPY36.0 (US$0.33)/kWh.

About Canadian Solar Inc.

Canadian Solar was founded in 2001 in Canada and is one of the world’s largest and foremost solar power companies. It is a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions and has a geographically diversified pipeline of utility-scale solar power projects in various stages of development. Over the past 18 years, Canadian Solar has successfully delivered over 38 GW of premium-quality, solar photovoltaic modules to customers in over 150 countries. Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006.

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