Shares of Canadian Solar Inc. (CSIQ) soared 5.37% in early trading on Monday, buoyed by the company's latest subsidiary update showing higher-than-expected power generation in September.
The Canadian Solar Infrastructure Fund, a Tokyo-listed subsidiary of Canadian Solar, reported that its September power production exceeded forecasts by around 8%, driven by favorable weather conditions and reduced curtailment. Specifically, the fund generated 24.2 million kilowatt-hours of electricity last month, around 108% of its projected output.
Investors welcomed the positive operational update, which highlighted the strong performance of Canadian Solar's utility-scale solar power assets. The robust generation figures also underscored the company's efforts to expand its renewable energy portfolio and capitalize on the growing global demand for clean energy solutions.
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