Canadian Solar Reports Fourth Quarter and Full Year 2022 Results

Contributing sentiments towards policy:

64% : The EIA procedures ensure environmental protection and consideration are considered from the very beginning of project development activities.
61% : Solar power systems are projects that are developed and built to hold on the Company's balance sheet.
60% : Global Energy SegmentCanadian Solar has one of the world's largest and most geographically diversified utility-scale solar and energy storage project development platforms, with a strong track record of originating, developing, financing, and building nearly 9 GWp of solar power plants and 3 GWh of battery storage power plants across six continents.
59% : Non-recourse debt used to finance solar power systems and project assets increased to $365 million as of December 31, 2022, from $311 million as of September 30, 2022.
59% : The net value of solar power systems at the end of the fourth quarter of 2022 were $365 million, compared to $101 million at the end of the third quarter of 2022.
59% : On January 4, 2023, Canadian Solar announced that CSI Energy Storage, which is part of its majority-owned subsidiary CSI Solar, has been selected to provide up to 550 MWh of SolBank energy storage products to Pulse Clean Energy ("Pulse") to be used in various UK-based projects.
58% : Our company and industry are at a critical turning point as we transition towards a grid parity market where clean energy investments are attractive both economically and from a sustainability standpoint, unlocking significant global demand.
51% : During the fourth quarter of 2022, the Company determined that certain solar projects in Brazil and Italy with book value of $264 million were appropriately reclassified as solar power systems as the intention on these projects transitioned to be held on the Company's balance sheet for the purpose of generating long-term electricity income.
49% : Factors that could cause actual results to differ include general business, regulatory and economic conditions and the state of the solar and battery storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to the COVID-19 pandemic; supply chain disruptions; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as Japan, the U.S., China, Brazil and Europe; changes in effective tax rates; changes in customer order patterns; changes in product mix; changes in corporate responsibility, especially environmental, social and governance ("ESG") requirements; capacity utilization; level of competition; pricing pressure and declines in or failure to timely adjust average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; continued success in technological innovations and delivery of products with the features that customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange and inflation rate fluctuations; uncertainties related to the CSI Solar carve-out listing; litigation and other risks as described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 28, 2022, as amended on October 18, 2022.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.