December 6, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Canadian Solar Incorporated (NASDAQ:CSIQ) (Guelph, Ontario) endured difficult market conditions in the third quarter, but saw positive news in two of its subsidiaries: Recurrent Energy closed a US$500 million investment from BlackRock Incorporated (NYSE:BLK) (New York, New York), while battery-storage business e-STORAGE saw its contracted backlog hit US$3.2 billion.

Industrial Info is tracking more than US$9 billion worth of active and planned projects from Canadian Solar across the U.S. and Canada, including more than US$2.9 billion worth that are nearing or under construction. Canadian Solar's total revenues in the third quarter dropped 18% from the same period last year to US$1.51 billion, amid reduced project sales and lower average selling prices for modules. But e-STORAGE proved a highlight, with increased sales of battery energy-storage systems (BESS). The company also benefited from higher solar module shipment volumes.

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