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Wired News – Canadian Solar Commissions an Open Access Solar Project in India

Stock Monitor: CEVA, Inc. Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 17, 2018 / If you want access to our free research report on Canadian Solar Inc. (NASDAQ: CSIQ), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CSIQ as the Company's latest news hit the wire. On May 15, 2018, the Company, which is one of the world's largest and foremost solar power Companies, declared that its 35 MWp commercial and industrial (C&I) solar portfolio in the state of Karnataka, India, reached its commercial operation in March 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for CEVA, Inc. (NASDAQ: CEVA), which also belongs to the Technology sector as the Company Canadian Solar. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Canadian Solar most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=CSIQ

About the Solar Project in India

The solar project is located in the Bagalkot District of Karnataka. Canadian Solar expects this 35 MWp project to generate nearly 54,000 MWh of clean solar power every year. This facility provides clean electricity to buyers in education, healthcare, cement, and auto parts industries, via 25-year power purchase agreements (PPAs), in compliance with the Open Access regulations of Karnataka. In fact, the Company has secured financing of INR1.0 billion (or US$16.0 million) from the Tata Cleantech Capital Ltd for its C&I portfolio.

Dr. Shawn Qu, Chairman and Chief Executive Officer (CEO) at Canadian Solar, expressed his pleasure on launching the Company's first C&I solar portfolio in India. He believes it would create sustainable value for their customers. Besides, it would benefit local businesses by making clean solar energy accessible and easing rising electricity costs. For years now, Canadian Solar has been providing strong development, technical, and financing solutions to help businesses switch to clean renewable energy.

Canadian Solar Subsidiary Secures Financing and Tax Equity Investment for Its North Carolina Project

Additionally, on May 15, 2018, Recurrent Energy, which is a wholly-owned subsidiary of Canadian Solar, closed on a debt financing and tax equity investment commitment for its 74.8 MWac/102 MWp NC 102 solar photovoltaic project. The NC 102 project is expected to reach commercial operations in the third quarter of 2018. Once completed, it would generate enough clean solar power to meet the energy needs of approximately 12,000 homes in Cabarrus County, North Carolina, making it one of the largest operating solar projects in the region.

Prudential Capital Group has agreed to provide a $106.7 million debt facility for the project, including a tax equity bridge loan, term loan, and revolving loan to the project. Besides, the US Bancorp Community Development Corp., a division of US Bank, will make a tax equity investment in the project under a separate agreement.

Canadian Solar's Forthcoming Earnings Conference Call

On April 30, 2018, Canadian Solar announced that it will hold a conference call on Wednesday, May 16, 2018, at 8:00 a.m. US Eastern Daylight Time (or 8:00 p.m., May 16, 2018, in Hong Kong) to discuss the Company's first quarter 2018 results and business outlook.

Stock Performance Snapshot

May 16, 2018 - At Wednesday's closing bell, Canadian Solar's stock rose 4.59%, ending the trading session at $17.56.

Volume traded for the day: 1.67 million shares, which was above the 3-month average volume of 573.78 thousand shares.

Stock performance in the last month – up 8.80%; previous three-month period – up 11.28%; past twelve-month period – up 35.70%; and year-to-date - up 4.15%

After yesterday's close, Canadian Solar's market cap was at $991.61 million.

Price to Earnings (P/E) ratio was at 11.09.

The stock is part of the Technology sector, categorized under the Semiconductor - Specialized industry. This sector was up 0.3% at the end of the session.

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