Canadian Solar Inc. (CSIQ, Financial) has announced that its subsidiary, e-STORAGE, will collaborate with Colbun, a prominent Chilean power generation firm, to deliver a substantial battery energy storage system (BESS) in Chile's Atacama Region. This project marks a significant development for the Diego de Almagro Sur site, where e-STORAGE will supply a 228 MW/912 MWh system.
The project will integrate e-STORAGE's cutting-edge SolBank 3.0 technology, which leverages lithium-iron-phosphate batteries. It features an active balancing battery management system alongside an advanced liquid cooling mechanism to ensure optimal performance and safety. Beyond the technology, e-STORAGE will offer Colbun a comprehensive solution that encompasses project management, commissioning services, and ongoing maintenance.
Construction of the battery storage system is slated to commence in June 2025, with peak operations expected to create up to 150 jobs. Commercial operations for the project are anticipated to begin by December 2026. This venture not only underscores Canadian Solar's commitment to advancing renewable energy solutions but also highlights the potential growth and development in energy storage initiatives within the region.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 10 analysts, the average target price for Canadian Solar Inc (CSIQ, Financial) is $15.48 with a high estimate of $30.38 and a low estimate of $7.28. The average target implies an upside of 96.21% from the current price of $7.89. More detailed estimate data can be found on the Canadian Solar Inc (CSIQ) Forecast page.
Based on the consensus recommendation from 11 brokerage firms, Canadian Solar Inc's (CSIQ, Financial) average brokerage recommendation is currently 2.6, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Canadian Solar Inc (CSIQ, Financial) in one year is $28.96, suggesting a upside of 267.05% from the current price of $7.89. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Canadian Solar Inc (CSIQ) Summary page.
