Wood Mackenzie scales renewable markets data reach as Canadian Solar

April 25, 2022 / 5 min read

LONDON/HOUSTON/SINGAPORE, April 25, 2022 – Wood Mackenzie welcomes Canadian Solar as a development partner for its industry-leading Lens® decision intelligence platform, which delivers live data across the industrial landscapes of every global economy.

Canadian Solar, (Nasdaq: CSIQ) one of the world’s largest solar technology companies, is the latest among leading companies across financial, manufacturing, renewable developer and utilities industries to collaborate with Wood Mackenzie (a Verisk business [Nasdaq: VRSK]) to connect the dots in the analysis of data across a rapidly changing energy landscape.

International pressure to decarbonize is intensifying and, through its continued addition of specialist organizations on all continents, Wood Mackenzie’s Lens platform has become instrumental in helping key players rapidly visualize, value, model and optimize energy assets, portfolios and companies.

Integration of renewable and conventional power sources in a single interface, drawing from Wood Mackenzie’s trusted commercial intelligence on the world’s natural resources sector, transforms how Lens Power customers drive investment strategy decisions and ignite growth plans.

Joe Levesque, Co-president for Wood Mackenzie states, “Battery storage capacity and hybrid solar-storage are on steep growth trajectories, as organizations look to capture the energy produced from renewable technologies to meet peak demand for electricity.”

“Canadian Solar is an important development partner for us, as it is in a unique and specialized position as a solar PV manufacturer and a large-scale solar and energy storage project developer. The insights its team will provide will further support our delivery of key data in what is an increasingly high activity segment, at a time of significant pressure in others.”

Canadian Solar has one of the world's largest and most geographically diversified utility-scale solar and energy storage project development platforms, with a strong track record of originating, developing, financing and building over 6.3 GWp of solar power plants across six continents.

Dr. Shawn Qu, Chairman and CEO of Canadian Solar states, “Energy storage technology will be a critical enabler of the solar PV market going forward. Understanding the hybrid solar-storage project economics will give us a growth advantage to develop cost-effective, end-to-end integrated dispatchable solar energy solutions.

“We look forward to working with Wood Mackenzie as we build our technological capabilities in the solar plus energy storage space, as efforts to scale capacity and secure new growth opportunities intensify.”

Lens® Power offers an integrated, thirty-year view of global power markets supply, demand, cost and energy price forecasts alongside high-fidelity geospatial data including solar irradiance and transmission infrastructure. As Wood Mackenzie continues to integrate real-time and historic nodal congestion and price data, Lens Power will provide unmatched insight into greenfield site selection and asset optimization.

Among Lens® initiatives is Wood Mackenzie’s collaboration with early adopters to design a power solution that provides a holistic understanding of what is happening in the world of energy, allowing organizations to improve profitability and minimize risk.

ENDS

For further information, please contact:

The Big Partnership (UK PR agency)
woodmac@bigpartnership.co.uk

Sonia Kerr
+44 330 174 7267
Sonia.kerr@woodmac.com

Canadian Solar Inc. Investor Relations Contact: Isabel Zhang, Director of Investor Relations and Strategic Analysis, investor@canadiansolar.com

About Wood Mackenzie Lens®
Wood Mackenzie’s Lens® platform is the industry standard in critical decision-support, harnessing the power of digital technology to provide answers to complex questions across the natural resources value chain, enabling customers to manage their capital, operations, and processes swiftly and efficiently. https://www.woodmac.com/wood-mackenzie-lens-power/

About Wood Mackenzie
Wood Mackenzie, a Verisk Analytics business, is a trusted source of commercial intelligence for the world's natural resources sector. We empower clients to make better strategic decisions, providing objective analysis and advice on assets, companies, and markets. For more information, visit: www.woodmac.com or follow us on Twitter @WoodMackenzie

WOOD MACKENZIE is a trademark of Wood Mackenzie Limited and is the subject of trademark registrations and/or applications in the European Community, the USA and other countries around the world.

About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 20 years, Canadian Solar has successfully delivered over 67 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built and connected over 6.3 GWp in over 20 countries across the world. Currently, the Company has around 445 MWp of solar projects in operation, nearly 6 GWp of projects under construction or in backlog (late-stage), and an additional 18.6 GWp of projects in pipeline (mid- to early- stage). Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com

About Verisk
Verisk (Nasdaq: VRSK) provides data-driven analytic insights and solutions for the insurance and energy industries. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk empowers customers to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global issues, including climate change and extreme events as well as political and ESG topics. With offices in more than 30 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.

Wood Mackenzie scales renewable markets data reach as Canadian Solar joins Lens Power Development Partner Program