Canadian Solar has another success in building overseas factories! 5GW silicon wafer factory settled in Thailand

On November 9, Canadian Solar announced that the company plans to invest in and build a solar silicon wafer production base with an annual production capacity of 5 GW in Chonburi, Thailand.

This move marks another important milestone for Canadian Solar Group in its global solar industry layout. It is reported that the newly built base will produce the most advanced solar N-type silicon wafers, with an annual production capacity of 5 GW. It is expected to be put into production in March 2024 and supply Canadian Solar’s TOPCon cell production base in Thailand.

“With the full operation of Canadian Solar’s 5-gigawatt cell plant in Fishersonville, Indiana, in 2025, these silicon wafers will also become an important raw material for the plant.” Canadian Solar said.

Since the beginning of this year, Canadian Solar has maintained a steady development momentum. The company’s operating performance in the first three quarters of 2023 continued to maintain strong growth. Module shipments in the first three quarters were approximately 22.6GW, a year-on-year increase of 53.7%; the company achieved operating income of 39.12 billion yuan in the first three quarters, a year-on-year increase of 17.1%. Attributable to shareholders of listed companies Net profit was 2.84 billion yuan, a year-on-year increase of 126.0%.

Among them, module shipments in the third quarter were 8.3GW, with the main shipping markets being China, Europe, and the Americas. The North American market has better profitability than other markets. For the whole of 2023, the company’s module shipment target of 30-35GW is expected to remain unchanged.

In terms of production capacity, it is expected that by the end of 2024, Atela’s rod, silicon wafer, cell and module production capacity will reach 50 GW, 60 GW, 70 GW and 80 GW respectively.