- Companies
- CSI Solar
CSI Solar Revenue, Valuation, Funding & Investors
CSI Solar is valued at $1.1B as of September 2020, a 0.2x multiple on its last reported $5.6B revenue.
Last CSI Solar valuation
$1.1B
Secondary · Sep 2020
CSI Solar revenue
$5.6B
Secondary · Sep 2020
Key investors in CSI Solar
CDH Investments
Oriza Holdings
About CSI Solar
CSI Solar is a photovoltaic module manufacturer and EPC contractor delivering turnkey solar projects for industrial parks and rooftops. As a subsidiary of Canadian Solar, it produces PERC and bifacial panels with 22 percent efficiency at factories in Changshu, China. The company handles 2 GW annual deployments across Asia Pacific markets.
Founded
2001
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales, Services
Revenue
$5.6B (Sep 2020)
Valuation
$1.1B (Sep 2020)
Sectors
CSI Solar Valuation
CSI Solar is currently valued at $1.1B, based on its secondary sale in September 2020.
The $260M round was led by CDH Investments and Oriza Holdings.
CSI Solar valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2020 | Secondary | $1.1B | 0.2x |
CSI Solar Revenue
CSI Solar's latest recorded revenue is $5.6B, as of its secondary sale in September 2020. At a $1.1B valuation, that implies a 0.2x revenue multiple.
CSI Solar revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2020 | $5.6B | $1.1B | 0.2x | Secondary |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
CSI Solar Funding History
CSI Solar has 1 recorded secondary share sale and no primary funding rounds.
CSI Solar funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2020 | Secondary | CDH Investments (lead); Oriza Holdings (lead) | $260M | $1.1B | CSI Solar is the modules and systems solutions (MSS) business of Canadian Solar, focusing on solar module, inverter, and system kit manufacturing. In October 2020, CDH Investments and Oriza Holdings (via SIP Oriza PE Fund Management) invested approximately $219 million (RMB 1.5 billion) in CSI Solar ahead of its planned IPO in China, with Canadian Solar retaining a 74.9% stake post-transaction. The investment valued CSI Solar at $1.1 billion, part of a total RMB 1.78 billion ($261 million) raise that included employee subscriptions. Canadian Solar employees purchased about $4.5 million in shares at the $1.1 billion valuation, while an employee stock ownership plan subscribed to $36.4 million in shares at a 30% discount. The fundraising supports expansion of manufacturing capacity to target 18-20 GW shipments in 2021. |
Who has invested in CSI Solar?
2 investors have backed CSI Solar across its funding rounds, including CDH Investments and Oriza Holdings.
Lead investors include CDH Investments and Oriza Holdings.
CSI Solar Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialInvestments by CSI Solar
CSI Solar has invested in 1 company to date.
Latest investment by CSI Solar was on August 1st 2026. CSI Solar invested in Weiguang Energy Technology in their Series B round.
Latest Investments by CSI Solar
| Description | Weiguang Energy Technology is a manufacturer of power conversion hardware such as solid-state transformers together with related control software. The firm supplies customized equipment and platforms that improve operational performance and reliability inside data centers, vehicle networks, and grid-scale storage sites. |
| HQ Country | |
| HQ City | Xi'an |
| Deal Date | 1 Aug 2026 |
| Round | Series B |
| Raised | undisclosed |
| Investors | Changzhou Government Investment Fund; Huatai Zijin Investment; Tangxing Capital; Xi'an Jiaotong University 1896 Capital; Fortune Venture Capital; Henan CICC Huirong Fund Management; Bridge Capital China; Yuanyou Investment |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all CSI Solar investments and their VC round multiples. Start Free Trial | |
CSI Solar Competitors
CSI Solar competitors include listed companies like Banpu Power, Jiangsu Zongyi Co, XPLR Infrastructure and Alerion CleanPower, and private ones like Amarenco and Climeworks.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | - | - | $1.1B | - | ||
| Publicly listed | $70M | $41M | $1.1B | - | ||
| Private | - | - | $1.1B | - | ||
| Private | - | - | $1.1B | - | ||
| Publicly listed | $1.2B | $607M | $1.1B | 10.7x | ||
| Publicly listed | $146M | $115M | $1.1B | 6.3x |
CSI Solar Public Comps
CSI Solar is still privately-owned, but its public comps include Banpu Power, Jiangsu Zongyi Co, XPLR Infrastructure, Alerion CleanPower, EnergyVision, Bonheur, Naturenergie, Greencoat Renewables, SP New Energy and Emerald Horizon.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | - | - | - | - | - | |||
| $70M | $41M | 16.0x | - | 27.6x | - | |||
| $1.2B | $607M | 11.8x | 10.7x | 23.0x | - | |||
| $146M | $115M | 14.5x | 6.3x | 18.4x | 8.7x | |||
| $199M | $44M | 6.6x | 4.8x | 29.9x | 22.5x | |||
| $1.3B | $404M | 1.2x | 1.2x | 3.9x | 4.2x | |||
| $1.8B | $325M | 0.7x | - | 3.8x | 5.0x | |||
| ($45M) | ($8M) | (51.9x) | 24.4x | (278.9x) | 24.6x | |||
This data is available for Pro users. Sign up to see all CSI Solar competitors and their valuation data. Start Free Trial | ||||||||
Common questions about CSI Solar
| When was CSI Solar founded? | CSI Solar was founded in 2001. |
| Where is CSI Solar headquartered? | CSI Solar is headquartered in Guelph, Canada. |
| Is CSI Solar publicly listed? | No, CSI Solar is a private, VC-backed company. |
| What is CSI Solar's valuation? | CSI Solar was last valued at $1.1B in its secondary sale in September 2020. |
| Who are CSI Solar's investors? | CSI Solar's investors include Oriza Holdings and CDH Investments. |
| What is CSI Solar's revenue? | CSI Solar's latest recorded revenue is $5.6B (September 2020). |
| What is CSI Solar's revenue multiple? | CSI Solar's latest valuation implies a 0.2x revenue multiple ($1.1B valuation on $5.6B of revenue). |
| Which companies are comparable to CSI Solar? | Companies comparable to CSI Solar include Banpu Power, Jiangsu Zongyi Co, Amarenco, Climeworks, XPLR Infrastructure and Alerion CleanPower. |
| How many companies has CSI Solar invested in? | CSI Solar has invested in 1 company, including Weiguang Energy Technology. |
| What was CSI Solar's last investment? | In August 2026, CSI Solar invested in Weiguang Energy Technology's Series B alongside Changzhou Government Investment Fund, Huatai Zijin Investment, Tangxing Capital and 5 other investors. |
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