Canadian Solar Inc. is a solar technology and renewable energy company founded in 2001 and headquartered in Kitchener, Ontario, Canada. It has been listed on Nasdaq under the ticker CSIQ since 2006 and operates through two segments: Manufacturing, which covers module and battery production, and Recurrent Energy, which develops, owns, sells and operates utility-scale solar and storage projects. Colin Parkin became chief executive in May 2026, with Xinbo Zhu as chief financial officer. The company says it has delivered nearly 180 GW of photovoltaic modules over 25 years and has shipped more than 23 GWh of battery energy storage through its e-STORAGE business.

Two segments and three product lines

  • CS PowerTech — manufacturing for the US market, including the Texas module plant and the Indiana cell plant.
  • CSI Solar — manufacturing, module and battery sales to all other markets, including the SolBank utility storage and KuBank commercial and industrial systems.
  • Recurrent Energy — project development, asset sales, power services and electricity sales from an operating portfolio, with 15 GW of projects under operations and maintenance contracts.

Modules, inverters and battery systems are sold under the Canadian Solar, e-STORAGE and EP Cube brands, and the group also offers solar system kits. In June 2026 it launched a TOPCon 3.0 module rated at up to 670 Wp with 24.8% conversion efficiency, and mass shipments began in August 2026.

US manufacturing build-out

The group's current strategy centres on localised manufacturing in the United States. It operates a 5 GWp module factory at Mesquite, Texas, which is being expanded to 10 GWp nameplate capacity with completion expected in the second half of 2026. In Jeffersonville, Indiana, CS PowerTech opened the first phase of a heterojunction (HJT) cell plant in July 2026 with 2.1 GWp of nameplate capacity, described by the company as the first commercial-scale HJT cell facility in the United States. A second phase adding 4.2 GWp is due to start trial production in the first quarter of 2027, taking total US cell capacity to 6.3 GWp. Canadian Solar also manufactures at Baotou in China, whose ingot facility, and at Suqian, whose cell lines, earned Silver Level Solar Stewardship Initiative supply chain traceability certification in June 2026 as the first manufacturer certified at silver level for both ingot and cell production.

Second quarter 2026 results

For the quarter ended 30 June 2026 Canadian Solar reported net revenues of $1.2 billion, up 12% sequentially but down 29% year on year, at the top of its $1.0-1.2 billion guidance range. Gross profit was $168 million and gross margin 13.9%, within guidance of 13-15% but well below the 25.1% of the previous quarter and 29.8% a year earlier, mainly because the first quarter included an IEEPA tariff refund and the prior-year quarter included the release of unrealised profit on a US leasing sale. Operating expenses of $240 million represented 19.8% of revenue. The net loss attributable to shareholders was $77 million, or $1.40 per share, and the quarter ended with $1.9 billion of cash. Cash used in operating activities was $181 million, and total debt including financing liabilities rose to $7.1 billion, of which $4.1 billion sits in Recurrent Energy, $2.5 billion in Manufacturing and $0.4 billion in convertible notes. Module shipments recognised as revenue were 3.1 GW, up 25% quarter on quarter but down 60% year on year and spread across more than 70 countries; battery storage shipments reached 3.7 GWh, 82% above the previous quarter and ahead of the 2.8-3.2 GWh guidance. For the third quarter the company guides to revenue of $1.3-1.5 billion, a 13.5-15.5% gross margin, 3.5-3.8 GW of module shipments and 3.4-3.8 GWh of storage shipments, and reiterates full-year US guidance of 6.5-7.0 GW of modules and 4.5-5.5 GWh of storage.

Development pipeline and storage orders

At the end of June 2026 the group's solar development pipeline totalled 21.7 GWp, of which 1.7 GWp was under construction, 2.2 GWp in backlog and 17.7 GWp in advanced or early development; Latin America and EMEA account for the largest regional shares. The battery pipeline totalled 84.1 GWh, with 600 MWh under construction and 4.4 GWh in backlog. e-STORAGE reported a contracted backlog of $3.5 billion including long-term service agreements. Contracts announced during 2026 include a 95 MW/426 MWh system for a Florida utility, 75 MW/381 MWh for Apex Clean Energy in Michigan, an 8 MW/40 MWh project with Axpo in Italy, 420 MWh for Drax in the United Kingdom, 2.5 GWh supporting US data centre demand, and 503 MWh of projects in Texas with Sunraycer.

Projects, patents and corporate events

Recurrent Energy closed $695 million of project financing and tax equity in August 2026 for the 330 MW Cobalt Solar project in Riverside County, California, with debt led by MUFG and Nord/LB and tax equity from Wells Fargo, and brought the 150 MWac Carwarp Energy Park in Victoria, Australia, to commercial operation ahead of schedule under a long-term power purchase agreement with Microsoft. In July 2026 Dylan Marx was appointed chief executive of Recurrent Energy, succeeding Ismael Guerrero. On the legal side, Canadian Solar said in August 2026 that the remaining US patent litigation brought by Maxeon had been resolved, with the infringement case dismissed with prejudice, after earlier Patent Trial and Appeal Board decisions in its favour in January and April 2026. The company filed its annual report on Form 20-F for 2025 on 10 April 2026, published its 2025 corporate sustainability report on 1 June 2026, and was named a Tier 1 supplier for both storage systems and modules on S&P Global Energy's 2026 Tier 1 cleantech list. Its US-made TOPCon and HJT modules received FM Approvals recognition for severe hail resilience in July 2026, and e-STORAGE completed UL 9540A large-scale fire testing for its KuBank 3.0 product in August 2026.