Neo Solar nabs 400-MW PV cell order from Canadian Solar

Dec 2, 2014 - Taiwanese firm Neo Solar Power Corp (TPE:3576), or NSP, said Monday it will deliver up to 400 MW of its photovoltaic (PV) cells to Canadian Solar Inc (NASDAQ:CSIQ) throughout 2015.

The two companies, which have been working together since 2007, did not disclose any financial details on the latest agreement.

The deal represents very good news for NSP, which posted a third-quarter net loss of TWD 153 million (USD 5m/EUR 4m), against a profit of TWD 465 million a year back. The solar cell maker blamed the negative result on the US anti-dumping and the anti-subsidy probes into Chinese and Taiwanese solar equipment manufacturers.

Canadian Solar, which makes modules and other solar products in Canada and China, aims to bring its module manufacturing capacity to 3.5 GW in mid-2015. It recently lifted its module shipments forecast for 2014 to between 2.73 GW and 2.78 GW.

(TWD 1.0 = USD 0.322/USD 0.259)

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