Canadian Solar Inc. (the “Company” or “Canadian Solar”) (NASDAQ: CSIQ) today announced that e-STORAGE, part of its majority-owned subsidiary CSI Solar Co., Ltd. (“CSI Solar”), has secured a turnkey EPC contract to supply a 98 MW/312 MWh DC Battery Energy Storage System (BESS) to the Huatacondo project in Chile. Developed by Sojitz Corporation and Shikoku Electric Power Co., Inc. through their subsidiary AustrianSolar Chile Cuatro SpA (“ASC4”), construction is set to commence in the first quarter of 2025.
e-STORAGE will provide and integrate its advanced SolBank 3.0 energy storage solution for the project. Under the EPC contract, e-STORAGE will manage all civil, mechanical, and electrical infrastructure for the project.
Toshinori Kawahara, General Manager of ASC4, remarked, “Building our energy storage project is a major milestone for ASC4. We are very pleased to contribute to a stable supply of electricity in northern Chile.”
Colin Parkin, President of e-STORAGE, stated, “We are pleased to extend our energy storage expertise through the delivery of our first major project in Chile, supporting the government’s ambitious goal of getting 70% of its electricity from renewable sources by 2050. This new BESS project in the Tarapacá Region of Chile expands our global portfolio, reinforcing our commitment to delivering reliable, high-performance energy solutions worldwide.”
e-STORAGE’s SolBank 3.0 offers exceptional performance and safety, featuring high-density LFP cells, an advanced BMS, and an innovative liquid cooling TMS. Its compact design and high capacity of over 5 MWh per 20-ft container optimize land use and reduce costs. The SolBank 3.0 boasts an IP55 protection grade, making it resistant to wind and rain, ensuring reliable operation in the Andean climate. Its capacity to function effectively across a broad temperature spectrum further enhances its durability, making it an ideal solution for demanding environments.
About Canadian Solar Inc.
Founded in 2001, Canadian Solar 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 energy storage solutions, and developer of utility-scale solar power and battery energy storage projects with a geographically diversified pipeline in various stages of development. Over the past 23 years, Canadian Solar has successfully delivered over 133 GW of premium-quality solar photovoltaic modules to customers across the globe.
Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 11 GWp of solar power projects and 3.7 GWh of battery energy storage projects worldwide. Currently, the Company has approximately 1.6 GWp of solar power projects in operation, 6.5 GWp of projects under construction or in backlog (late-stage), and an additional 20.9 GWp of projects in advanced and early-stage pipeline. The Company has 1 GWh of battery energy storage projects in operation and a total battery energy storage project development pipeline of around 63 GWh.
About e-STORAGE
e-STORAGE is a subsidiary of Canadian Solar and specializes in designing, manufacturing, and integrating battery energy storage systems for utility-scale applications. e-STORAGE offers proprietary battery energy storage solutions, comprehensive EPC services, and innovative solutions aimed at improving grid operations.
About Sojitz
Sojitz Corporation operates as one of the leading general trading and investment companies in Japan. In the energy sector, Sojitz anticipates continued growth of decarbonization-related businesses due to rising global awareness of environmental issues.
About Shikoku Electric Power
Shikoku Electric Power (Yonden) is committed to pursuing initiatives toward the creation and development of future growth engines, to expand revenue in businesses outside the electric power business.
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. Investors should not place undue reliance on these forward-looking statements.
