A LEADING SOLAR ENERGY PROVIDER · projects, working with both build-to-sell and build-to-hold...
Transcript of A LEADING SOLAR ENERGY PROVIDER · projects, working with both build-to-sell and build-to-hold...
A LEADING SOLAR ENERGY PROVIDER
A WORLD-CLASS POWER SOLUTIONS COMPANY
Chairman and Chief Executive Officer Dr. Shawn Qu founded Canadian Solar in 2001 with a bold vision: to foster sustainable development and to make lives better by bringing electricity powered by the sun to millions of people worldwide. The nearly 12,000 dedicated employees of Canadian Solar (NASDAQ: CSIQ) strive each day to make this vision a reality.
The company’s two main lines of business are: (i) the manufacturing and sale of solar PV modules; and (ii) the development, construction and sale of solar PV projects, working with both build-to-sell and build-to-hold business models. Over 27 GW of our solar modules have been installed so far, enough to provide clean, green power to an average of 2.3 million households.
Our products are in operation in more than 100 countries, giving us a truly global reach. These achievements put us at the forefront of making solar power competitive and mainstream.
Customers choose Canadian Solar because we deliver the best-possible value. Our wafers, cells, and modules combine superior quality with market-leading cost structures. And our solar projects consistently achieve the highest production values and returns on investment. We currently have more than 11 GW of such projects in our pipeline worldwide and are uniquely positioned to provide complete turnkey solar solutions. By bundling services for the entire project life cycle—feasibility study, permitting, engineering, procurement, construction, and maintenance—we can significantly reduce complexity and cost for industrial and commercial customers.
Dr. Shawn Qu
Chairman, President & CEO (Director)
Yan Zhuang
SVP, Chief Commercial Officer
Thomas Körner
Vice President, Global Sales
2 | Company Overview
OVER 12,000 EMPLOYEES
FOUNDED 2001 IN ONTARIO
27 GW OF SOLAR MODULES SHIPPED
11 GW PROJECT PIPELINE NO. 2 GLOBAL PV DEVELOPER IN 2017
COMPANY OVERVIEW
2017 REVENUE $3.39 BILLION
MOST RECOMMENDED SOLAR COMPANY IN 2016*
*AC
CO
RDIN
G T
O IH
S M
ARK
IT
Company Overview | 3
COMPANY FACTSCANADIAN SOLAR HAS BEEN MAKING THE DIFFERENCE FOR 17 YEARS. BY BRINGING A TOTAL OF MORE THAN 27 GW OF SOLAR CAPACITY TO OUR CUSTOMERS WORLDWIDE.
6.8 GW of PV modules were shipped in 2017. Enough to cover over 4,500 football fields and replace three nuclear power stations.
CANADIAN SOLAR EXISTS TO MAKE THE DIFFERENCE.
5,232
1,894
3,105
1,323803
31083 168
1,543
4,706
TOTAL MODULE SHIPMENTS (MW)
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
6,828
15
4 | Company Facts
BUSINESS MODEL OVERVIEWCA
NAD
IAN
SO
LAR’
S CO
RE B
USI
NES
S
Silicon Production
String Inverters, MV Stations, Connectors and PV System Components, Energy Storage Systems, Off-grid Products, Micro-grids, Distributed Generation Solutions.
Systems and Solutions
With a strong global team, the total projects pipeline has reached 11.1 GWp in 2018, with 2 GWp of late stage pipeline. 1.2 GWp of projects are currently in operation.
Global Energy Group
400
1,200
1,6202,000
8,3109,910
2014 2015 2016 2017
2,440
5,450
1H2018 E
5,6007,050
5,0005,000
1,580
2H2018 E
Ingot casting centralised in Batou, China by year end 2018.
Ingots
Mono- & Polycrystalline MANUFACTURING CAPACITY (MW)
Wafer manufacturing capability quadrupled from year end 2016 to year end 2017. Diamond wire saw and Onyx black silicon technology reduce manufacturing costs.
Wafers
Mono- & Polycrystalline MANUFACTURING CAPACITY (MW)
1,000260 400
5,000
Cell manufacturing has been restored at the Funing factory, which was damaged by a tornado in June 2016. With additional cell manufacturing coming online in Thailand, cell manufacturing capacity nearly doubles to 6.35 GWp.
PV Cells
Mono- & Polycrystalline MANUFACTURING CAPACITY (MW)
2,700
Module manufacturing capacity at the end of 2018 will reach 9.81 GWp in China, Thailand, and other locations.
PV Modules
Mono- & Polycrystalline MANUFACTURING CAPACITY (MW)
6,170
8,110
4,3303,000
*Planned by year end
2014 2015 2016 2017 1H2018 E 2H2018 E*Planned by year end
2014 2015 2016
2016
2017
2017
1H2018 E
1H2018 E
2H2018 E
2H2018 E
*Planned by year end
*Planned by year end
Company Facts | 5
FINANCIAL STRENGTHSteady growth has enabled Canadian Solar to become one of the world’s biggest supplier of solar modules. And we’ve done it profitably.
Our net income of $100 million on revenue of $3.39 billion in 2017 was among the best in the industry. These figures underscore Canadian Solar’s ability to combine growth, profitability, and prudent financial management.
ONE OF THE MOST BANKABLE SOLAR COMPANIES WORLDWIDE
$677 MILLION TOTAL
$692 MILLION TOTAL
$912 MILLION TOTAL
$1,109 MILLION TOTAL
6 | Financial Strength
$668 MILLION TOTAL
$2,853 MILLION TOTAL
2016 2017 Q4 2016 Q1 2017 Q1 2018Q2 2017 Q3 2017 Q4 2017
$3,390 MILLION TOTAL
$1,420 MILLION TOTAL
TOP-3 RATED BANKABLE SOLAR COMPANY · Leading BNEF’s Q2 Tier 1 ranking · Bankable at 100+ financial institutions globally · World Bank’s International Finance Corporation has become
shareholder in 2016
INDEPENDENT BANKABILITY REPORTS OF SGURR & DELOITTE AVAILABLE UPON REQUEST
SUCCESS BY REGIONGLOBAL MANUFACTURING BASE, GLOBAL CUSTOMER BASE, GLOBAL PROJECT PIPELINE.
Asia-Pacific
EMEA
Americas
Canadian Solar’s reach is truly global. With the combination of our Energy business, specialising in the procurement and development of large scale utility-scale projects, as well as our module sales, we manage to continuously expand. This is also due to our state-of-the-art manufacturing facilities in Canada, China, Indonesia, Vietnam and warehouses in 18 countries, enabling us to meet customers’ needs 100 percent. And our customer-support team of more than 150 solar experts in 20 countries puts us close to our customers worldwide.
MODULE SUPPLIER RANK BASED ON VOLUME SHIPPED AND RECOGNISED IN REVENUE
RANK 2011 2012 2013 2014 2015 2016 2017
1ST
2ND Canadian Solar
3RD Canadian Solar Canadian Solar Canadian Solar Canadian Solar
4TH Canadian Solar
5TH Canadian Solar
Source: Canadian Solar Investors Relations and PV-Tech & Solar Media Ltd. Jan. 2018
Financial Strength | 7
STRONG LOCAL SALES AND PROJECT TEAM MULTI-FACETED, MULTI-CULTURAL, MULTI-TALENTED
The headquarter of Canadian Solar’s energy and sales business in Australia is in Melbourne. Those highly skilled and motivated employees within our Australian team encompass all relevant functions: project development, sales including key accounts and regional sales, business development, finance, technical, marketing, operations and legal affairs. With all this talent in-house, we can offer our customers the full range of services, from presale consultation and system design to after-sale service and training.
Moreover, our team brings together people of more than 10 different nationalities, ensuring that we have the cultural competence to understand and serve customers across Australia. This rich diversity also makes our Melbourne office a great place to work.
EMPLOYER BRANDRanked first for corporate social responsibility in 2015 and named Canada’s most attractive employer in the Randstad Awards 2016.
Canadian Solar is committed to: · equal opportunity regardless of race, gender,
nationality, or lifestyle choices · attracting and retaining the best people · providing employees with an enabling, diverse,
and fun work environment
8 | Australia
NO.1 PV MODULE BRAND IN 2016NO.2 MODULE SUPPLIER IN ASIA-PACIFIC
(EXCEPT CHINA, INDIA, OR JAPAN)
AUSTRALIA OVERVIEW
4 OFFICES, 4 WAREHOUSES IN AUSTRALIA
EXTENSIVE EXPERIENCE AND EXPERTISE ACROSS ALL FUNCTIONS
ONE TEAM SERVING ALL
AUSTRALIA HQ IN MELBOURNE
*ACC
ORD
ING
TO IH
S M
ARKI
T
Australia | 9
QUALITY AND SERVICEROBUST CONSTRUCTION IN ACCORDANCE WITH THE HIGHEST QUALITY STANDARDS GIVES OUR SOLAR PANELS OUTSTANDING LONGEVITY
Solar projects typically have a designed operating lifetime of 25 years. Our products have the longevity to meet these demands. We conduct rigorous in-house testing in our own laboratories to ensure durability and regularly submit our products to the world’s leading independent testing institutes, including the Fraunhofer Society and TÜV Labs. We’ve adapted the stringent quality-management systems of the automotive industry to PV manufacturing and check every one of our products at 369 different points along the manufacturing process to ensure their quality. And we comply with a wide range of internationally recognised standards for quality and environ-mental management.
QUALITY CONTROL MEETS HIGHEST INTERNATIONAL STANDARDS
! Compliance with ISO IEC 17024 procedures to approve all materials and components entering our facilities
! Confirmation through IEC 61215 and IEC 61730 tests to ensure product safety and reliability
! Adaption of the stringent quality-management system of the automotive industry to PV manufacturing
! Compliance with international quality and environmental-management standards ISO 9001, QC080000, ISO 14001 and OHSAS 18001
10 | Quality and Service
IN-HOUSE TESTING BACKED BY LEADING INDEPENDENT TESTING INSTITUTES
Price/performance ratio Module quality Likelihood of recommendation
BRAND FOR PRICE/PERFORMANCE RATIO, HIGHEST MODULE QUALITY VERIFIED BY IHS
Source: IHS PV Module Customer Insight Survery 2016
0% 5% 10%
Hanwha Q-Cells
LG
SolarWorld
Trina
Canadian Solar
Hanwha Q-Cells
Trina
Canadian Solar
SolarWorld
LG
Brand for price/performance ratio, Highest module quality verified by IHS. Canadian Solar was confirmed as the module brand with the best price/performance ratio, the highest module quality and the highest likelihood of being recommended.
0% 10%5%
Quality and Service | 11
SYSTEM SOLUTIONS PROVIDERCANADIAN SOLAR MOVES TOWARDS OFFERING ALL BALANCE OF SYSTEM COMPONENTS, ENABLING US TO SERVE YOU AS A ONE-STOP SHOP.
As a single source for modules, inverters, and more, Canadian Solar simplifies your procurement process with a unified contract, credit process, and invoice, as well as coordinated logistics and warranty, all from a supplier that understands solar.
O&M SERVICES
DECENTRALISED GENERATION SERVICES
Canadian Solar Operations and Maintenance services are designed to maximise the lifetime value of your solar power plant assets. Leveraging our 16 years of solar industry experience and over 800 MW under O&M operations worldwide, Canadian Solar proactively monitors and manages your plants minimising downtime and increasing site availability, resulting in maximum energy production, revenues and profitability. Customised service packages offer the right fit for any solar power plant owner.
Canadian Solar has delivered and constructed over 2.5 GW of commercial rooftops, carports and utility scale ground-mount projects globally. We specialise in full project development and deployment of photovoltaic, hybrid or full microgrid systems ranging from a few hundred kilowatts up to several megawatts.With our ever expanding product and services portfolio we are able to provide our commercial and industrial clients with a true one-stop shop solution, offering integrated design, faster deployment and lower total system cost.
12 | System Solutions Provider
NEW
T4 PV CONNECTORSThe Canadian Solar T4 PV connector is a high-quality field-installable PV connector-type. These connectors are made of high quality materials that guarantee long-term reliability. Lower contact resistance and higher current transfer capability ensure high product efficiency. T4 PV connectors have IP68 water- and dust-proof rating and can be used in a wide operating temperature range from -40 °C to 90 °C.
! Suitable for 4 mm2 /12 AWG and 10 AWG cables
! Field toolkit, disconnect tool and jumper cables are available
! T4 is the standard connector on Canadian Solar modules
! 1000 V and 1500 V IEC / UL versions are available
INVERTERSCanadian Solar’s grid-tied, transformerless string inverters are an optimal solution for commercial rooftop and small ground-mount applications. Furthermore, they are a cost-effective alternative to central inverters. Thanks to their modularity, string inverters allow designing power blocks and enable significant BoS cost savings.
! Power classes available from 1.5kWp to 60kWp
! Single Phase and 3 Phases
! Peak efficiency of 98.6 %
! Enable significant BoS cost savings
MV STATIONS
MV Stations are factory-integrated medium-voltage turnkey platforms for utility-scale solar installations. Inverters, transformers, controllers, communication equipment and other auxiliary components specified by the customer are integrated and tested in our state-of-the-art factory in Ontario, Canada. Once the MV Station is certified to applicable UL, IEC and NEC Standards, it is shipped directly to the project site for rapid “plug-and-play” connection, reducing construction costs and minimising compliance risk of wrong connections on-site. The MV Station is a field-proven design with over 700 MW of installed base across North America.
! Sizes in the range of 2.5 MVA to 5 MVA
! Suitable for 1000 Vdc and 1500 Vdc system design
! Available as skid or containerised solution
System Solutions Provider | 13
CS3K-P / CS3K-MS Highlight: Higher power classes combined with high versatilityCells: Poly and mono-PERCPoly: up to 305 WMono-PERC: up to 315 WVoltage: 1000 & 1500 V
CS3U-P / CS3U-MSHighlight: Higher power classes forcommercial and utility-scale solar systems Cells: dual-cell Poly and mono-PERCPoly: up to 365 WMono-PERC: up to 380 WVoltage: 1000 & 1500 V
CS3K-P-FG / CS3K-MS-FG / CS3U-P-FG / CS3U-MS-FG Highlight: Frameless* glass-glass modules with higher power classes for large utility scale systemCells: dual-cell Poly and mono-PERCPoly: up to 365 WMono-PERC: up to 380 WVoltage: 1000 & 1500 V*Also available with aluminum frame30 Years Linear Power Output Warranty
KuPOWER KuMAX KuDYMOND
30
NEWEST TECHNOLOGYDUAL-CELL, BIFACIAL, SHINGLED &ENHANCED WAFER MODULES
14 | New Products
NEW
CS3K-P-FG / CS3K-MS-FG / CS3U-P-FG / CS3U-MS-FG Highlight: Frameless* glass-glass modules with higher power classes for large utility scale systemCells: dual-cell Poly and mono-PERCPoly: up to 365 WMono-PERC: up to 380 WVoltage: 1000 & 1500 V*Also available with aluminum frame30 Years Linear Power Output Warranty
CS3U-PB-FG*Highlight: Bifacial modules increasesystem power generation and reduce LCOE costsCells: dual-cell PolyPower range: up to 365 WVoltage: 1000 & 1500 V*Also available with aluminum frame30 Years Linear Power Output Warranty
CS1K-MS / CS1H-MS All-BlackHighlight: High power modules with enhanced aesthetics appearanceCells: mono-PERCPower classes: up to 330 WVoltage: 1000 & 1500 V
BiKU HiDM HiKU
CS3L-P / CS3W-PHighlight: Enhanced wafer technology for higher power classesCells: dual-cell polyPower range: up to 405 WVoltage: 1000 & 1500 V
30
NEWEST TECHNOLOGY
New Products | 15
FULL-CELL MODULESWE MANUFACTURE AND MARKET SOLAR PANELS FOR ALL APPLICATIONS: RESI-DENTIAL, SMALL AND LARGE COMMERCIAL, UTILITY-SCALE, AND OFF-GRID.
STANDARD SUPERPOWER
CS6K-PHighlight: One of our bestseller modules, light, robust and applicable for all installation typesCells: 60 polycrystallinePower range: 270 – 295 WVoltage: 1000 & 1500 V
SuperPower CS6K-MS / CS6K-MS-AB Highlight: Higher modules efficiency thanks to mono-PERC technologyCells: 60 monocrystallinePower range: 290 – 305 W
Poly
SuperPower All-Black
SuperPower
16 | Full-Cell Modules
DYMONDMAXPOWER
LINEAR POWER OUTPUT
WARRANTY
PRODUCT WARRANTY ON MATERIALS AND
WORKMANSHIP
Dymond CS6K-P-FG / CS6K-MS-FGHighlight: Frameless* glass-glass module, PID freeCells: 60 polycrystalline / monocrystallinePower range poly: 260 – 295 WPower range mono: 290 - 300 WVoltage: 1500 V*Also available with aluminum frame, upon request
Dymond CS6X-P-FG Highlight: Frameless* glass-glass module, 100 % PID free, designed for 1500 V systemsCells: 72 polycrystallinePower range poly: 325 – 350 WVoltage: 1500 V*Also available with aluminum frame, upon request
MaxPower CS6U-PHighlight: Optimised for BoS reductionCells: 72 polycrystalline Power range poly: 325 – 350 WVoltage: 1000 & 1500 V
30Poly
Poly
30Mono
Poly
Full-Cell Modules | 17
CAPETOWN, SOUTH AFRICA
ZAF Sales Subsidiary
MADRID, SPAINSubsidiary
MUNICH, GERMANY
EMEA HQ
ANKARA, TURKEYSubsidiary
DUBAI, UAESubsidiary
BANGALORE, INDIASubsidiary
SINGAPORESubsidiary
SEOUL, SOUTH KOREA
Subsidiary
LONDON, UKSales, Project & Structured
Finance Subsidiary
SUZHOU, CHINAChina HQ
HONG KONGSales Office,
Project & Structured Finance Subsidiary
MILANO, ITALYEnergy Group
Subsidiary
MANUFACTURING FACILITIES
WAREHOUSE
SALES OFFICE
Changshu, China
Module Factory
Banten, Indonesia
Module Factory
Hai Phong, Vietnam
Module Factory
Thailand
Cell & Module Factory
Funing, China
Cell Factory
Luoyang, China
Ingot & Wafer Factory
PERTH, AUSTRALIA
Warehouse
18 | Australia Logistics Strength
GLOBAL REACH WITH PROFESSIONAL LOGISTICS
GUELPH, CANADACanada (Global HQ)
PANAMASales & Global
Energy Subsidiary
SAO PAOLO, BRAZILSubsidiary
SEOUL, SOUTH KOREA
Subsidiary
TOKYO, JAPANModule & Project HQ
NEW YORK, USEnergy Group
Subsidiary
Ontario, Canada
Module Factory
Sorocaba, Brazil
Module Factory
MELBOURNE, AUSTRALIA Module & Project Subsidiary
Suzhou, China
Cell & Module Factory
SAN FRANCISCO, USRecurrent Energy HQ
SAN RAMON, USUSA HQ
AUSTIN, USRecurrent Energy Office
MEXICO CITYSales Office
WALNUT CREEK, USEnergy Group HQ
SYDNEY, AUSTRALIA Office
BRISBANE, AUSTRALIA
Office
TOOWOOMBA, AUSTRALIA
Office
Australia Logistics Strength | 19
3. LATAM
285 MW COMPLETION110 MW CONSTRUCTION
1. CANADA
490 MW O&M819 MW COMPLETION
2. USA
28 MW O&M102 MW CONSTRUCTION
KEETMANSHOOP, NAMIBIAPower generation: 6 MW
HOPLASS, UKPower generation: 10.3 MW
THUNDERBAY AIRPORT, CANADAPower generation: 8.5 MW
ENERGY GROUPGLOBALLY DIVERSIFIED PROJECTS
CANADIAN SOLAR HAS DEVELOPED AND BUILT LARGE-SCALE SOLAR PROJECTS FOR CUSTOMERS ACROSS THE GLOBE. OUR PROJECTS HAVE EARNED A REPUTATION FOR DELIVERING THE HIGHEST ENERGY YIELD AND RETURN ON INVESTMENT.
20 | References Energy Group
4. EMEA
10 MW O&M156 MW COMPLETION
14 MW CONSTRUCTION
6. INDIA, SRI LANKA, BD
144 MW COMPLETION35 MW CONSTRUCTION
7. AUSTRALIA & SEA
20 MW COMPLETION100 MW CONSTRUCTION
5. JAPAN
143 MW O&M166 MW COMPLETION
120 MW CONSTRUCTION
KEETMANSHOOP, NAMIBIAPower generation: 6 MW
HOPLASS, UKPower generation: 10.3 MW
LONGREACH, AUSTRALIAPower generation: 17.4 MW
E32, JAPANPower generation: 1.2 MW
References Energy Group | 21
1. NORMANTON SOLAR FARM, QLDModule: CS6X-P
Power generation: 5 MW
2.IKEA NATIONAL PROJECT, VIC, NSW & QLD
Module: CS6X-P and CS6P-P Power generation: 3.6 MW
3. SHELLHARBOUR SHOPPING CENTRE, NSW
Module: CS6P-P Power generation: 1.2 MW
4. SYDNEY CONVENTION CENTRE, NSW
Module: CS6P-P-SD Power generation: 521 kW
PROJECT REFERENCES AUSTRALIA
22 | References Australia
34
1
5. LONGREACH SOLAR FARM, QLDModule: CS6U-M
Power generation: 17.4 MW
7
5
22
2
22
6
7. OAKEY II SOLAR FARM, QLDModule: CS3U-P
Power generation: 70 MW
6. OAKEY I SOLAR FARM, QLDModule: CS6U-M
Power generation: 30.2 MW
PROJECT REFERENCES AUSTRALIA
“We have a long-term approach to sustainability, globally our ambition is to switch to renewable energy to become
energy independent by 2020, and we’re well on the way. For an installation of this size, installing solar systems on to the
roofs of our stores and warehouses here in Australia is a considerable undertaking and each of our sites’ has had its challenges. It’s important to us and our business to ensure
we have efficient, reliable high quality product together with a competitive offer, expert knowledge and experience.”
RICHARD WILSON, SUSTAINABILITY MANAGER, IKEA AUSTRALIA
References Australia | 23
CANADA (GLOBAL HEADQUARTERS)Canadian Solar Inc. 545 Speedvale Avenue, West Guelph Ontario, Canada N1K 1E6 TEL +1 (0) 519 837 1881 FAX +1 (0) 519 837 2550 E-MAIL [email protected]
AUSTRALIACanadian Solar MSS (Australia) Pty Ltd. 44 Stephenson St,Cremorne VIC 3121, Australia TEL +61 (03) 8609 1844 E-MAIL [email protected]
CONTACT
www.canadiansolar.com/au
2018 V1 AU