Canadian Solar announced today that they confidentially submitted a draft registration statement to the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of a YieldCo Vehicle on a U.S. stock exhange.
Canadian Solar originally announced their intentions to create a YieldCo in March, but mentioned a possible delay in their plans during their second quarter conference call in August. During that call with financial analysts, Chief financial officer Michael Potter said Canadian Solar was developing contingency plans as a result of the market volatility surrounding yieldco valuations.
The number of securities to be sold and the price range for the proposed offering have not yet been determined.
Tracey is an accountant and entrepreneur with a passion for nature. This passion is what spurred her interest in renewable energy, and the rest is history as they say. Tracey is a principal in Energy Think Group, the publisher of Solar Thermal Magazine and Tek-Think. She is also the principal at Women's Financial Help Desk. She spends her free time in the outdoors with her horses and dogs. She loves to travel.