BUZZ-Canadian Solar Inc: Plans to bundle, spin off some power plants

Thu Mar 5, 2015 10:07am EST
 
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(updates)

** Solar company's shares up 6.6 pct at $32.16; touches near-4 month high of $32.94

** Plan to structure and potentially list downstream (power-plant building) business in YieldCo - CEO Shawn Qu

** Sees plants in Japan, the UK, United States, Canada to be part of YieldCo, to be set up by early 2016 - CFO Michael Potter

** Yield cos earn through long-term contracts with utilities, offer cheaper cash flows than loans for parent, provide regular dividends

** Q4 net attributable profit more than triples due to strong power plant sales, module demand

** Sees 2015 shipment 4.0-4.3 gigawatt (GW), up from 3.1 GW in 2014

** Nearly 3 mln shares traded in first half hour, more than their 10-day moving average; among most traded on the Nasdaq

** Stock among top percentage gainers on the Nasdaq; Had fallen 31 pct in 12 months through Wednesday