March 26 (Renewables Now) - Canadian Solar Inc (NASDAQ:CSIQ) intends to increase its annual photovoltaic (PV) module production capacity by about 3,000 MW by the end of 2020, while also expanding cell production by 500 MW.
According to an expansion plan released on Thursday, the company expects to raise its module capacity to 14,850 MW by end-June 2020 from the current 13,040 MW and then reach 16,050 MW by the end of the year.
As per cell production, Canadian Solar’s current capacity amounts to 9,600 MW and it is seen to reach 10,100 MW by the end of June, with no further additions in the second half of 2020. The company also anticipates increasing its ingot capacity by 500 MW in July-December 2020 to hit a total of 2,350 MW.
The wafer production capacity is planned to remain the same throughout the whole year -- 5,000 MW.
Canadian Solar noted that its expansion plan is subject to change based on market conditions.