‘Silicon Module Super League’ (SMSL) member Canadian Solar has slightly increased its fourth quarter and full-year 2017 shipment guidance. However, the sale of US PV power plant projects, were not completed in the quarter, forcing the company to lower revenue guidance.
The SMSL said that solar module shipment guidance for the fourth quarter of 2017 had been revised upwards and was expected to be in the range of approximately 1,720MW to 1,820MW, compared to previous guidance of 1,650MW to 1,750MW.
As a result, Canadian Solar expects full-year 2017 solar module shipments to be in the range of approximately 6.8GW to 6.9GW, compared to 6.7GW to 6.8GW that was previously guided.
Revenue would be impacted by the delay in completing the sale of six PV power plant project in California totalling 703MWp, which were not completed in the fourth quarter, although the company had previously noted that the sale could occur in the first quarter of 2018.
The SMSL said that the delay meant total revenue for the fourth quarter would be in the range of US$1.04 billion to US$1.08 billion, compared to US$1.77 billion to US$1.81 billion guided previously.
As a result, full-year 2017 revenue was revised to be in the range of US$3.33 billion to US$3.37 billion, compared to US$4.05 billion to US$4.09 billion that was previously guided.
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