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

CSI Solar Overview

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

CanadaGuelph

Status

Privately held

Customer focus

B2B

Revenue model

Product sales, Services

Revenue

$5.6B (Sep 2020)

Valuation

$1.1B (Sep 2020)

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

CSI Solar valuation by funding round
DateStageValuationRevenue Multiple
Sep 2020Secondary$1.1B0.2x

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

CSI Solar revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Sep 2020$5.6B$1.1B0.2xSecondary

* 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

CSI Solar funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2020SecondaryCDH Investments (lead); Oriza Holdings (lead)$260M$1.1BCSI 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

Investors in CSI Solar by funding rounds participated
InvestorHQRoundsRoleFirst check

This data is available for Pro users. Sign up to see all 2 CSI Solar investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Investments 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

Weiguang Energy Technology
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 CountryChina
HQ City
Xi'an
Deal Date1 Aug 2026
RoundSeries B
Raisedundisclosed
InvestorsChangzhou 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
Valuationundisclosed
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.

Public and private companies comparable to CSI Solar
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Banpu PowerThailandThailandPublicly listed--$1.1B-
Jiangsu Zongyi CoChinaChinaPublicly listed$70M$41M$1.1B-
AmarencoIrelandCorkPrivate--$1.1B-
ClimeworksSwitzerlandZurichPrivate--$1.1B-
XPLR InfrastructureUnited StatesUnited StatesPublicly listed$1.2B$607M$1.1B10.7x
Alerion CleanPowerItalyItalyPublicly listed$146M$115M$1.1B6.3x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Banpu Power------
Jiangsu Zongyi Co$70M$41M16.0x-27.6x-
XPLR Infrastructure$1.2B$607M11.8x10.7x23.0x-
Alerion CleanPower$146M$115M14.5x6.3x18.4x8.7x
EnergyVision$199M$44M6.6x4.8x29.9x22.5x
Bonheur$1.3B$404M1.2x1.2x3.9x4.2x
Naturenergie$1.8B$325M0.7x-3.8x5.0x
Greencoat Renewables($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.

See companies similar to CSI Solar

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial