According to foreign media reports, Canadian Solar has recently inaugurated its 5GW factory in Texas, USA, which mainly produces photovoltaic modules based on TOPCon cell technology. On June 16, 2023, Canadian Solar announced that it was establishing a 5GW photovoltaic module factory in Mesquite, Texas, with an investment of over $250 million. The factory was expected to start production around the end of 2023.
In its 2023 annual report, Canadian Solar mentioned the progress of the factory: in line with the company's global strategic development and overseas capacity planning needs, a 5GW N-type new technology photovoltaic module factory was established in Mesquite, Texas. The factory officially started production in 2023 and has recently begun delivering 210-sized products. It is expected to be fully operational within 2024, positioning Canadian Solar as a leader among top photovoltaic companies.
The recent announcement of the official opening of the Texas factory by Canadian Solar may indicate that the factory is now capable of full production. The factory may currently be using cells produced by Canadian Solar in Southeast Asia.
Meanwhile, Canadian Solar's cell factory in the United States is also under construction. At the end of October 2023, Canadian Solar announced plans to invest approximately $839 million in a 5GW high-efficiency N-type cell project in Jeffersonville, Indiana, expected to start production by the end of 2025.
According to this plan, by 2025, Canadian Solar will have 5GW of cell and module production capacity in the United States, further enhancing its performance by leading the layout in high-value markets.
In 2023, Canadian Solar achieved a revenue of 51.31 billion yuan, a year-on-year increase of 7.94%; net profit attributable to the parent company was 2.903 billion yuan, a year-on-year increase of 34.61%. The annual module shipment volume was 30.7GW, maintaining a leading position in the industry.
By the end of December 2024, Canadian Solar's capacities for silicon ingots, silicon wafers, cells, and modules are expected to reach 50.4GW, 50.0GW, 55.7GW, and 61.0GW, respectively.
Source：OFWEEK
