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$CSIQ

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Sectors

Sector Update: Energy Stocks Mixed Late Afternoon

Energy stocks were mixed late Thursday afternoon, with the NYSE Energy Sector Index up 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) fractionally lower.The Philadelphia Oil Service Sector Index was rising 3.5%, and the Dow Jones US Utilities Index was down 0.8%.In the Middle East, about 6 million to 8 million barrels a day of crude oil are now being shipped through the Strait of Hormuz, Bloomberg reported, citing estimates from traders monitoring cargo activity. Flows slipped in July, when an onslaught of Iran's attacks on supertankers led to the breakdown of an interim ceasefire agreement between Washington and Tehran and heightened risks to navigation, the news report said, adding that flows remain at roughly half prewar levels.Meanwhile, Qatar's Foreign Ministry said Iran and Qatar discussed an agreement to implement a "joint project" to clear mines from the Strait of Hormuz as well as "efforts to reduce escalation and create appropriate conditions for dialogue," according to a report from Al Jazeera, a Middle Eastern broadcaster.Front-month West Texas Intermediate crude oil rose 2.1% to $83.93 a barrel, and the global benchmark Brent crude contract advanced 2.6% to $90.11 a barrel. Henry Hub natural gas futures added 2.3% to $2.91 per 1 million BTU.In sector news, US natural gas stocks rose by 15 billion cubic feet in the week ended Aug. 21, as expected in a survey compiled by Bloomberg and following an increase of 16 billion cubic feet in the previous week.In corporate news, Shell (SHEL) ended talks with Unimot months ago over offloading its stake in Germany's Russia-linked Schwedt refinery, Bloomberg reported. The refinery, majority-owned by Russian oil firm Rosneft, has been stuck in an ownership deadlock since 2022, the report said. Shell shares were down 0.3%.BP (BP) is in exclusive talks with Energean to sell some of its upstream oil and gas assets in Egypt, Reuters reported. BP shares were down 0.3%.Enbridge (ENB) has entered into a definitive agreement with KKR (KKR) to form a joint venture that will invest about $2.7 billion Canadian dollars ($1.94 billion) to fund the expansion of the Aspen Point and Sunrise programs on the Westcoast natural gas pipeline system, the company said Thursday. Enbridge shares declined 0.9%.Canadian Solar (CSIQ) has hired Guggenheim Securities to help it evaluate strategic options for its Recurrent Energy unit, Bloomberg reported Wednesday. Canadian Solar shares were down 0.8%.

$BP$CSIQ$ENB$SHEL
Sectors

Sector Update: Energy Stocks Lower in Afternoon Trading

Energy stocks were softer Thursday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each shedding 0.3%.The Philadelphia Oil Service Sector Index was rising 1.3%, and the Dow Jones US Utilities Index was down 0.78%.In the Middle East, about 6 million to 8 million barrels a day of crude oil are now being shipped through the Strait of Hormuz, Bloomberg reported, citing estimates from traders monitoring cargo activity. Flows slipped in July, when an onslaught of Iran's attacks on supertankers led to the breakdown of an interim ceasefire agreement between Washington and Tehran and heightened risks to navigation, the news report said, adding that flows remain at roughly half prewar levels.Meanwhile, Qatar's Foreign Ministry said Iran and Qatar discussed an agreement to implement a "joint project" to clear mines from the Strait of Hormuz as well as "efforts to reduce escalation and create appropriate conditions for dialogue," according to a report from Al Jazeera, a Middle Eastern broadcaster.Front-month West Texas Intermediate crude oil rose 0.7% to $82.80 a barrel, and the global benchmark Brent crude contract advanced 0.8% to $87.67 a barrel. Henry Hub natural gas futures added 0.8% to $2.87 per 1 million BTU.In sector news, US natural gas stocks rose by 15 billion cubic feet in the week ended Aug. 21, as expected in a survey compiled by Bloomberg and following an increase of 16 billion cubic feet in the previous week.In corporate news, BP (BP) is in exclusive talks with Energean to sell some of its upstream oil and gas assets in Egypt, Reuters reported. BP shares were down 0.8%.Enbridge (ENB) has entered into a definitive agreement with KKR (KKR) to form a joint venture that will invest about $2.7 billion Canadian dollars ($1.94 billion) to fund the expansion of the Aspen Point and Sunrise programs on the Westcoast natural gas pipeline system, the company said Thursday. Enbridge shares declined 0.9%.Canadian Solar (CSIQ) has hired Guggenheim Securities to help it evaluate strategic options for its Recurrent Energy unit, Bloomberg reported Wednesday. Canadian Solar shares fell 1.1%.T1 Energy (TE) shares jumped past 6% after it said Thursday that local officials in Mo i Rana, Norway, have rezoned part of the company's Giga Arctic campus for the development of a data center.

$BP$CSIQ$ENB$TE
Commodities

Canadian Solar Ships More Energy Storage in Q2; Solar Modules Up Sequentially

Canadian Solar (CSIQ) battery energy storage shipments totaled 3.7 gigawatt-hours, up 82% from the prior quarter, as the company shipped to utility-scale projects worldwide, it said on Thursday.Energy storage shipments were also higher by 73% from a year earlier and exceeded the company's guidance range of 2.8 GWh to 3.2 GWh.As of June 30, the e-storage unit dedicated to battery systems secured a contracted backlog of $3.5 billion, while the total project development pipeline stood at 84.1 GWh.The company said 600 megawatt-hours of that pipeline were under construction, while 4.4 GWh were in a backlog and 79.1 GWh were in advanced and early-stage development.In terms of solar modules, Canadian Solar shipped 3.1 gigawatts during the quarter, up 25% sequentially but down 60% from a year ago.The corresponding project development pipeline as of June 30 stood at 21.7 GW, according to the report, with 1.7 GW under construction, 2.2 GW in backlog, and 17.7 GW in advanced and early-stage development.In Q3, Canadian Solar expects battery energy storage shipments to be in the range of 3.4 GWh to 3.8 GWh. Solar module shipments are projected to be in the range of 3.5 GW to 3.8 GW.Price: $13.02, Change: $-0.85, Percent Change: -6.13%

$CSIQ
Commodities

Canadian Solar Gets Favorable Ruling in Maxeon US Patent Litigation

Canadian Solar (CSIQ) on Tuesday said that the remaining US proceeding involving patent infringement allegations brought by Maxeon Solar has been resolved in its favor.According to the company's press release, the suit in the Federal District Court has been dismissed with prejudice, while the US Court of Appeals for the Federal Circuit had also overturned part of a Patent Trial and Appeal Board ruling related to Maxeon's remaining claim.The dispute, which dates all the way back to March 2024, centers around three patents related to the TOPCon solar cell technology.Colin Parkin, Canadian Solar chief executive officer, hailed the ruling, saying that it affirms the company's "ability to compete through technology and manufacturing leadership," while highlighting its deep intellectual property portfolio.

$CSIQ
Commodities

Recurrent Energy Secures $695 Million Financing for California Solar Project

Recurrent Energy, a unit of Canadian Solar (CSIQ), said on Thursday it had closed $695 million in project financing and tax equity for its 330-megawatt Cobalt Solar project in California.The project, located about 20 miles west of Blythe in Riverside County, is under construction and is projected to begin commercial operations by the end of 2027.The financing package includes about $484 million in debt led by Mitsubishi UFJ Financial Group and Nord. It comprises construction and term loans, a tax equity bridge loan and a letter of credit facility.Recurrent Energy also secured a $211 million tax equity investment from Wells Fargo.The project is being built by Blattner Energy, which has been appointed as the engineering, procurement and construction contractor.Cobalt Solar is projected to generate enough electricity to power the equivalent of about 82,000 homes annually once operational, Recurrent Energy said.The project is also expected to generate about $14 million in property tax revenue for Riverside County, providing an economic boost to the local community.Price: $15.38, Change: $-0.34, Percent Change: -2.16%

$CSIQ
Wire

Market Chatter: US Considers Price Floor, Tariffs on Polysilicon to Counter China

The US government is considering to set a price floor and enforce tariffs on polysilicon and derivative products in a bid to bolster efforts to challenge China in the solar panel and semiconductor industries, Reuters reported Tuesday, citing four sources familiar with the plan.The plan is expected to advance later in the month and will allow investors in US wafer and cell production to offset the costs brought about by the trade protections, according to the report.The US Department of Commerce did not immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $16.11, Change: $+0.59, Percent Change: +3.80%

$ARRY$CSIQ$TOYO
Commodities

e-Storage to Supply Battery Energy System in Florida

Canadian Solar (CSIQ)'s energy storage solutions business, e-Storage, will supply one of Florida's electric utilities with battery storage totaling 95 megawatts / 426 megawatt-hours in capacity, it said on Thursday.The battery energy storage system, featuring the company's 5-MWh SolBank battery pack, will be installed in H2 2027, with commercial operations planned for early 2028, according to the statement.The asset is expected to dispatch stored energy during peak demand periods to help lower energy costs, the company said.

$CSIQ
Commodities

Update: Market Chatter: US Solar Panel Makers File Petition Against South Korean Solar Cell Imports

(Updates with SEG's comments in fourth and fifth paragraphs.)A newly formed solar manufacturing coalition, American Manufacturers for Energy Resilience, has petitioned the US Department of Commerce to launch an anti-circumvention trade probe into solar cell imports from South Korea, Reuters reported Monday.The group, consisting of Canadian Solar (CSIQ), SEG, and Heliene, filed the petition on June 18, accusing Hanwha Qcells of intentionally shifting its core cell manufacturing from China to South Korea to evade steep US tariffs, according to the report.Under US trade enforcement law, import duties can be legally extended to products routed through third nations, if the final processing or assembly in those countries is deemed minor."This petition is not about attacking South Korea, a key US ally, or any company making real investments in American manufacturing. It is about making sure the trade rules apply equally to everyone," SEG said in an email to."The US has made a clear national commitment to rebuilding domestic solar manufacturing. That commitment only works if companies cannot avoid existing AD/CVD orders by routing Chinese-origin inputs through third countries with only minimal processing," SEG added.Other than SEG, none of the parties involved responded immediately to' request for comments.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$CSIQ
Commodities

Market Chatter: US Solar Panel Makers File Petition Against South Korean Solar Cell Imports

A newly formed solar manufacturing coalition, American Manufacturers for Energy Resilience, has petitioned the US Department of Commerce to launch an anti-circumvention trade probe into solar cell imports from South Korea, Reuters reported Monday.The group, consisting of Canadian Solar (CSIQ), SEG, and Heliene, filed the petition on June 18, accusing Hanwha Qcells of intentionally shifting its core cell manufacturing from China to South Korea to evade steep US tariffs, according to the report.Under US trade enforcement law, import duties can be legally extended to products routed through third nations, if the final processing or assembly in those countries is deemed minor.None of the parties involved responded immediately to' request for comments.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$CSIQ
Commodities

US Patent Board Ruling Invalidates Trina Solar Patent Claims Against Canadian Solar

Canadian Solar (CSIQ) said Monday the Patent Trial and Appeal Board of the US Patent and Trademark Office invalidated claims of two Tunnel Oxide Passivated Contact solar cell patents previously asserted by Trina Solar against some of its subsidiaries.The company said that this decision reinforces its track record in managing international intellectual property disputes, while noting that it remains focused on organic research and development, with an effective system to defend its global IP rights.President Colin Parkin said the company opposes what it described as the "abusive use of IP" to hinder competition, and will continue to defend its business interests.

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