Canadian Solar to Establish 5 GW Module Production Facility in Texas
The company will deploy TOPCon solar cell technology in modules produced at the facility
Canadian Solar, a solar module manufacturer headquartered in Canada, has announced the establishment of a 5 GW solar photovoltaic module manufacturing facility in Mesquite, Texas.
This facility, representing an investment of over $250 million, will produce approximately 20,000 high-power modules daily.
The company is known for its work in solar cell technology, and the new facility will deploy its innovative Tunnel Oxide Passivated Contact (TOPCon) solar cell technology.
TOPCon cells are known for their exceptional efficiency and optimization in bifacial modules, generating energy from both the front and rear of the solar cell.
In December 2022, the company announced that its subsidiary, CSI Solar, will begin mass production of high-efficiency N-type TOPCon solar modules in the first quarter of 2023.
These modules are considered best in class, offering a power output of up to 690W and a cell conversion efficiency of approximately 25.0%. The company said that compared to mainstream products in the market, Canadian Solar’s TOPCon modules achieve 1.5% higher cell efficiency.
The company anticipates that TOPCon module shipments will account for approximately 30% of the company’s total module shipments in 2023.
The company’s foray into the United States manufacturing sector marks a significant move in its expansion strategy, and the facility is expected to commence production by the end of 2023.
Dr. Shawn Qu, the founder, and CEO of Canadian Solar, emphasized the company’s long-term vision, suggesting that this investment in the United States could be the first of many, as Canadian Solar aims to create a sustainable and resilient clean energy supply chain.
Canadian Solar acknowledged the support received from the State of Texas, Dallas County, and the City of Mesquite in realizing this project.
The company recently revealed the pricing for the shares of CSI Solar, its majority-owned subsidiary, as part of its proposed initial public offering on the Shanghai Stock Exchange.
The solar module maker’s net income surged 809% year-over-year to $84 million for the first quarter of the financial year 2023, fueled by increased module shipments and improved margins.