Separately, Canadian Solar announced that Potter will step down as CFO effective 22 May, to be replaced by Huifeng Chang, who joined the company earlier this year as senior vice president of corporate strategy, business development and finance. Potter will stay on in an advisory role.

On the same day that loss-making rival module maker Yingli warned investors it is unlikely to be able to repay debts coming due later this week, Canadian Solar reported a first-quarter net profit of $22.6m,