Thank you for this deep dive, but my big concern is the almost $6 Billion in debt they carry on the balance sheet which gives me a lot of pause before investing in something like this
Good point. I think more detailed segment financial statements would provide helpful insight. Debt which is secured by stabilized operating utility assets should be low risk. CSIQ does show that of Recurrent Energy's $2.5Bn in debt, $1.1Bn is non-recourse.
Thank you for this deep dive, but my big concern is the almost $6 Billion in debt they carry on the balance sheet which gives me a lot of pause before investing in something like this
Good point. I think more detailed segment financial statements would provide helpful insight. Debt which is secured by stabilized operating utility assets should be low risk. CSIQ does show that of Recurrent Energy's $2.5Bn in debt, $1.1Bn is non-recourse.
The very lack of disclosures you mention in the article is the key reason most investors will continue to avoid CSIQ.
The NAV discount itself is irrelevant as there is a zero likelihood that anyone would buy out CSIQ to realise that discount.
Even FSLR with all it's advantages is not able to rally within the solar sector.