Canadian Solar has updated its guidance for the fourth quarter and full year 2017 and now expects total revenue for the year to be between $3.33bn to $3.37bn, rather than the previous $4.05bn to $4.09bn expectation.
The company, in part, cites delays in government approval for the sale of a portfolio of six solar power projects in California, totalling 703MW, for the update.
The parties had hoped to close the transactions in the fourth quarter of 2017 or the first quarter of 2018. However, the required approvals have yet to be received, Canadian Solar said.
Fourth quarter is now expected to be in the range of $1.04bn to $1.08bn, down from $1.77bn to $1.81bn earlier.
The company has also updated its solar module shipment guidance – expecting the total to be in the range of 6.8GW-6.9 GW, compared with 6.7GW-6.8GW previously.
Image: Pixabay
Canadians lower revenue guidance
By EBS