Canadian Solar Financial and Operational Summary Q1 2022
Large diversified solar project pipeline across various stages of development
TOTAL
25 GWp
Plants in Operation
0.8 GWP
Plants in Construction
1.1 GWp
Backlog
4.2 GWP
Pipeline
18.5 GWP
.
Good balance of projects across regions and different stages of development
Approx. 6.1 GWp of contracted solar projects
Projects are originated by regional teams, but Investment Committee has final say on projects, with strong risk
management function
Projects in operation and connected to the local grid, generating electricity revenues
Projects in construction that have not yet reached commercial operation
Projects that have passed the Risk Cliff Date and are expected to be built in 1-4 years
Risk Cliff Date is the date on which the project passes the last high-risk development milestone (varies by country)
Most backlog projects will have received required environmental and regulatory approvals and entered into
interconnection agreements. Over 90% of projects in backlog have contracted revenues
Early- to mid-stage project opportunities currently under development that are yet to be de-risked
The project has been brought to the Investment Committee but has not yet passed its Risk Cliff Date
The Company may exit from earlier stage projects that do not show acceptable risk/return/cash flow profile
Total pipeline as of March 31, 2022. Definitions of backlog/pipeline consistent with industry practice.
(1) China portfolio is part of Global Energy.
(2) Gross project capacity includes aggregate project stakes of c.600 MWp not owned by CSIQ.
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