GUELPH,
ON, Dec. 6, 2023 /PRNewswire/ -- Canadian
Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ:
CSIQ) today announced its majority-owned e-STORAGE will
deliver 226 MWh DC of turnkey energy storage solutions to ENGIE in
the UK (Scotland).
e-STORAGE will construct the two energy storage projects, each
with a capacity of 56.5 MW / 113 MWh DC in Cathkin and Broxburn,
Scotland, UK. Both sites will
be connected to the 33 kV network and are scheduled to reach
grid connection in early 2025.
e-STORAGE has signed an Engineering, Procurement, and
Construction (EPC) agreement with ENGIE for the construction of
both sites. The two BESS projects will employ SolBank, a
proprietary containerized energy storage solution using robust and
high-cycle capacity lithium-iron-phosphate (LFP) cells, active
balancing battery management system (BMS) and efficient thermal
management system (TMS). e-STORAGE's SolBank provides customers
with superior performance at the highest levels of safety.
The Cathkin and Broxburn energy storage projects will support
more than 40,000 homes and play a significant role in facilitating
the UK's transition to net zero emissions by 2050.
Aidan Connolly, Head of ENGIE
Battery Storage UK, commented, "ENGIE is looking forward to
working with Canadian Solar's e-STORAGE on our Cathkin and Broxburn
BESS projects in Scotland. Serving
alongside ENGIE's 2.1 GW of existing UK pumped storage assets at
Dinorwig and Ffestiniog, these projects will build upon ENGIE's
position as a leader in power flexibility in the UK. ENGIE is
targeting 10 GW of global battery storage by 2030 to help
facilitate the energy transition, and these two Scottish projects
are another step on this journey."
Colin Parkin, President of
e-STORAGE, commented, "We are very excited to work with
ENGIE in the UK to implement these two projects at Broxburn and
Cathkin. ENGIE continues to
demonstrate its commitment to the deployment of clean, renewable
technologies, globally and we are looking forward to supporting our
established partnership with ENGIE as we progress in executing our
targets to deploy multi-GW of energy storage into the progressive
UK energy market in the next few years."
About Canadian Solar
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 22 years, Canadian Solar has
successfully delivered over 110 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 around 9.3 GWp of solar power
projects and over 3 GWh of battery storage projects across the
world. Currently, the Company has around 850 MWp of solar power
projects in operation, 7.8 GWp of projects under construction or in
backlog (late-stage), and an additional 18.7 GWp of projects in
advanced and early-stage pipeline. In addition, the Company has a
total battery storage project development pipeline of approximately
55 GWh, including approximately 5 GWh under construction or in
backlog, and an additional 50 GWh at advanced and early-stage
development. 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.
e-STORAGE is a subsidiary of Canadian Solar and a leading
company specializing in the design, manufacturing, and integration
of battery energy storage systems for utility-scale applications.
The Company offers its own proprietary LFP battery solution,
comprehensive EPC services, and innovative solutions aimed at
improving grid operations, integrating clean energy, and
contributing to a sustainable future. e-STORAGE had US$2.6 billion of contracted backlog including
contracted long-term services agreements as of November 14, 2023. To date, e-STORAGE has
successfully implemented over 3.3 GWh DC of battery energy storage
solutions in various locations, including the United States, Canada, the United
Kingdom, and China. This
significant accomplishment solidifies e-STORAGE's position as a key
player in the global energy storage integration industry.
Currently, the Company operates two fully automated,
state-of-the-art manufacturing facilities with an annual production
capacity of 10 GWh. e-STORAGE is fully equipped to continue
providing high-quality, scalable energy storage solutions and
contribute to the widespread adoption of clean energy. For
additional information about e-STORAGE, please follow the LinkedIn
page or visit www.csestorage.com.
ENGIE is a global reference in low-carbon energy and
services. With its 96,000 employees, its customers, partners, and
stakeholders, the Group is committed to accelerating the transition
towards a carbon-neutral world, through reduced energy consumption
and more environmentally friendly solutions. Inspired by its
purpose ("raison d'être"), ENGIE reconciles economic performance
with a positive impact on people and the planet, building on its
key businesses (gas, renewable energy, services) to offer
competitive solutions to its customers. Turnover in 2022:
93.9 billion Euros. The Group is
listed on the Paris and
Brussels stock exchanges (ENGI)
and is represented in the main financial indices (CAC 40, Euronext
100, FTSE Euro 100, MSCI Europe) and
non-financial indices (DJSI World, Euronext Vigeo Eiris -
Europe 120 / France 20, MSCI EMU ESG screened, MSCI
EUROPE ESG Universal Select, Stoxx
Europe 600 ESG-X). https://www.engie.com/en
Safe Harbor/Forward-Looking Statements
Certain statements in this press release are forward-looking
statements that involve a number of risks and uncertainties that
could cause actual results to differ materially. These statements
are made under the "Safe Harbor" provisions of
the U.S. Private Securities Litigation Reform Act of
1995. In some cases, you can identify forward-looking statements by
such terms as "believes," "expects," "anticipates," "intends,"
"estimates," the negative of these terms, or other comparable
terminology. Factors that could cause actual results to differ
include general business, regulatory and economic conditions and
the state of the solar and battery storage market and industry;
geopolitical tensions and conflicts, including impasses, sanctions
and export controls; volatility, uncertainty, delays and
disruptions related to the COVID-19 pandemic; supply chain
disruptions; governmental support for the deployment of solar
power; future available supplies of high-purity silicon; demand for
end-use products by consumers and inventory levels of such products
in the supply chain; changes in demand from significant customers;
changes in demand from major markets, such as Japan,
the U.S., China, Brazil and Europe;
changes in effective tax rates; changes in customer order patterns;
changes in product mix; changes in corporate responsibility,
especially environmental, social and governance ("ESG")
requirements; capacity utilization; level of competition; pricing
pressure and declines in or failure to timely adjust average
selling prices; delays in new product introduction; delays in
utility-scale project approval process; delays in utility-scale
project construction; delays in the completion of project sales;
continued success in technological innovations and delivery of
products with the features that customers demand; shortage in
supply of materials or capacity requirements; availability of
financing; exchange and inflation rate fluctuations; uncertainties
related to the CSI Solar carve-out listing; litigation and
other risks as described in the Company's filings with the
Securities and Exchange Commission, including its annual report on
Form 20-F filed on April 18, 2023.
Although the Company believes that the expectations reflected in
the forward-looking statements are reasonable, it cannot guarantee
future results, level of activity, performance, or achievements.
Investors should not place undue reliance on these forward-looking
statements. All information provided in this press release is as of
today's date, unless otherwise stated, and Canadian Solar
undertakes no duty to update such information, except as required
under applicable law.
CANADIAN SOLAR INC. INVESTOR RELATIONS CONTACTS
Isabel Zhang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com
David Pasquale
Global IR Partners
914-337-8801
csiq@globalirpartners.com
e-STORAGE MEDIA INQUIRIES
Simona Marginean
e-STORAGE Marketing Manager
simona.marginean@csestorage.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/canadian-solars-e-storage-to-deliver-226-mwh-dc-of-battery-storage-projects-to-engie-in-the-uk-302006921.html
SOURCE Canadian Solar Inc.