Business
Canadian Solar Announces U.S. Module Manufacturing Facility in Mesquite, Texas
GUELPH, ON, June 15, 2023 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ), headquartered in Guelph, Ontario, today
About this update from Canadian Solar Inc.
[{"type":"text","content":"GUELPH, ON, June 15, 2023 /PRNewswire/ -- Canadian Solar Inc. (the \"Company\" or \"Canadian Solar\") (NASDAQ: CSIQ), headquartered in Guelph, Ontario, today announced that it is establishing a solar PV module production facility in Mesquite, Texas.\nCanadian Solar is building a state-of-the-art solar photovoltaic module manufacturing plant with an annual output of 5 GW, equivalent to approximately 20,000 high-power modules per day. The new facility represents an investment of over $250 million and will create approximately 1,500 skilled jobs once it is fully ramped up. Production is expected to begin around the end of 2023. This will be Canadian Solar's first United States manufacturing facility, following its successful track record of production in Canada, China, Brazil, Thailand and Vietnam. In 2021, Canadian Solar relocated Recurrent Energy, its 17-year-old U.S. subsidiary, to Austin, spearheading the rapid growth of renewable energy in the Lone Star State as a solar and battery storage project developer.\n\"Canadian Solar's new $250 million manufacturing plant in Mesquite will bolster Texas' status as the energy capital of the world and secure our leadership as a global tech hub,\" said Governor Greg Abbott. \"I thank Canadian Solar for choosing Texas for their next U.S. business investment and for creating 1,500 new jobs in the region to help boost the community for generations to come.\"\nUnited States Senator Ted Cruz expressed his enthusiasm for the project stating, \"Texas is an energy production powerhouse, and we embrace an all-of-the-above energy strategy. It's great to see this incredible investment in Mesquite, which will create 1,500 good-paying jobs in Texas. This kind of investment in the Lone Star State is the reason people are flocking to our great state. I will continue to fight for Texas innovators and job creators in the U.S. Senate.\"\nMesquite Mayor Daniel Aleman, Jr. added, \"We are very proud to have a company like Canadian Solar in Mesquite and appreciate their investment in our city. We look forward to a great partnership with them and the impact they will make on our community.\"\nEmphasizing the importance of this new facility, Dr. Shawn Qu, founder and CEO of Canadian Solar, said, \"Establishing this factory is a key milestone that will enable us to better serve our U.S. customers with the most a...