- Canadian Solar Inc CSIQ agreed to divest a 70% stake in its 738 MWp solar projects, Marangatu and Panati-Sitia, to SPIC Brasil.
- SPIC Brasil is a power generation company in Brazil.
- The Marangatu and Panati-Sitiá projects covered an area of 2,200 hectares.
- Both projects likely begin construction in late 2022 and reach commercial operation in late 2023.
- Marangatu and Panati-Sitiá will likely be two of Brazil's largest solar power plants and generate clean electricity equivalent to powering over 900,000 households in Brazil annually.
- In the meantime, President Joe Biden looks to waive the tariff on solar panels for two years from four Southeast Asian nations after an investigation barred imports and hindered projects in the U.S., Reuters reports.
- The White House aims to increase domestic solar manufacturing capacity to 22.5 gigawatts by 2024, or three times the manufacturing capacity when the president took office, Barron's reports.
- Biden seeks to ease concerns about companies having to hold billions of dollars in reserves to pay potential tariffs.
- Recently the Commerce Department made a months-long investigation into whether imports of solar panels from Cambodia, Malaysia, Thailand, and Vietnam dodge tariffs on goods made in China.
- SolarEdge Technologies, Inc SEDG shares traded higher by 4.41% at $311.50 in the premarket on the last check Monday. Enphase Energy, Inc ENPH shares traded higher by 4.74% at $205.65. SunPower Corp SPWR shares traded higher by 7.13% at $19.69. Sunrun Inc RUN shares traded higher by 9.19% at $29.24.
- Price Actions: CSIQ shares traded higher by 7.04% at $35.43 in the premarket on the last check Monday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.