On July 24, Canadian Solar Inc. announced that its subsidiary Recurrent Energy has obtained a loan of 50 million euros (about 394 million yuan) from the European Investment Bank (hereinafter referred to as "EIB"). The funds will be used for the development and construction of Recurrent Energy's photovoltaic power station project in Italy. This transaction not only consolidates Recurrent Energy's leadership in promoting Italy's clean energy transformation, but will also further increase the installed capacity of Italy's renewable energy projects and help Europe achieve its goals of reducing carbon emissions and enhancing energy independence.

Ismael Guerrero, CEO of Recurrent Energy, said: "We are pleased to deepen our cooperation with the European Investment Bank. This financing is a key step towards our goal of becoming a top independent power producer in the world, and it also demonstrates our firm commitment to promoting sustainable economic development in Europe and around the world. We look forward to establishing a long-term and stable cooperative relationship with the EIB and working together to achieve our common goals."

Since 2017, Recurrent Energy has begun to actively expand its business in Italy, and recently successfully built the 51MW Anguillara solar photovoltaic project in the Marsala region of Sicily, Italy, setting a benchmark for other projects in Europe, the Middle East and Africa. At present, Recurrent Energy has a rich project reserve in the EMEA region, including 10.3GW of photovoltaic power generation projects and 32.8GWh of energy storage projects.

Earlier on July 21, Suzhou released the list of "Top 100 Private Enterprises in Suzhou in 2024". Canadian Solar Power Group ranked 11th with a total operating income of 53.7 billion yuan in 2023, ranking first in Suzhou High-tech Zone. On June 9, 2023, Canadian Solar (688472), a subsidiary of the group, officially landed on the Science and Technology Innovation Board of the Shanghai Stock Exchange. Since 2011, Canadian Solar has ranked among the top five in the world in terms of shipments of its main products for 13 consecutive years.

Canadian Solar expects that by the end of 2024, the company's rod drawing, silicon wafer, cell and module production capacity will reach 50.4 GW, 50 GW, 55.7 GW and 61 GW respectively, and the TOPCon high-efficiency battery production capacity will reach 42 GW. As of the first quarter of 2024, the manufacturing capacity of Canadian Solar's SolBank large-scale energy storage system has expanded to 20 GWh. It is expected that by the end of 2025, its manufacturing capacity will be further expanded to 30 GWh. As of March 31, 2024, the amount of backlog orders, including long-term service agreements, was US$2.5 billion (equivalent to approximately RMB 18.1 billion based on the recent USD/RMB exchange rate of 7.25).

Source：https://mp.weixin.qq.com/s/TPpedwA9N0Ma-qYL5eji-g