KITCHENER, ON, Feb. 10,
2025 /PRNewswire/ -- Canadian Solar
Inc. (the "Company" or "Canadian Solar") (NASDAQ:
CSIQ) today announced that e-STORAGE, which is part of the
Company's majority-owned subsidiary CSI Solar Co., Ltd. ("CSI
Solar"), has signed a contract with Copenhagen Infrastructure
Partners ("CIP") through its fifth flagship fund Copenhagen
Infrastructure V to deliver 240 MW/960 MWh battery energy storage
systems in Summerfield, South
Australia. Summerfield, expected to start construction in
2025, will be one of South
Australia's largest battery energy storage projects.
e-STORAGE, a tier 1 global provider of energy storage solutions,
will provide turnkey EPC services, supplying and integrating over
200 SolBank 3.0 battery containers. e-STORAGE will also
support the long-term performance and operational management of the
projects under a long-term service agreement with CIP. e-STORAGE
has a strong and experienced project delivery team in Australia, with several BESS projects already
delivered or under construction.
Located in Murraylands, 55 kilometers east of Adelaide near Mannum, the project will support
the South Australian Government's target of 100% net renewable
energy by 2027 by storing excess wind and solar energy generated
during the day and supplying renewable power during peak demand
periods.
Jørn Hammer, Partner and Head of Copenhagen Infrastructure
Partners (CIP) Australia,
said,
"This is a significant milestone for the Summerfield project and
CIP's broader renewable energy pipeline in Australia. Australia needs large-scale battery energy
storage solutions to stabilize the grid and deliver affordable
power to homes and businesses when needed most. We are proud to
work with Canadian Solar's e-STORAGE to support the South
Australian Government's 100% renewable energy
ambitions."
Colin Parkin, President of
e-STORAGE, added, "We are honored to be selected by
Copenhagen Infrastructure Partners (CIP) for the Summerfield
project, a testament to e-STORAGE's proprietary cutting-edge
battery technology and our strong execution capabilities. This
project will make a significant contribution to South Australia's target of 100% renewable
electricity generation by 2027. With over 1.5 GWh of BESS under
construction in Australia,
e-STORAGE continues to establish itself as a leading product and
service supplier in the region."
About Canadian Solar Inc.
Canadian Solar is one of the world's largest solar technology
and renewable energy companies. Founded in 2001 and headquartered
in Ontario, Canada, the Company is
a leading manufacturer of solar photovoltaic modules; provider of
solar energy and battery energy storage solutions; and developer,
owner, and operator of utility-scale solar power and battery energy
storage projects. Over the past 23 years, Canadian Solar has
successfully delivered around 142 GW of premium-quality, solar
photovoltaic modules to customers across the world. Through its
subsidiary e-STORAGE, Canadian Solar has shipped over 8 GWh of
battery energy storage solutions to global markets as of
September 30, 2024, boasting a
US$3.2 billion contracted backlog as
of November 30, 2024. 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 globally.
Its geographically diversified project development pipeline
includes 26 GWp of solar and 66 GWh of battery energy storage
capacity in various stages of 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.
About e-STORAGE
e-STORAGE is a subsidiary of Canadian Solar and a
leading company specializing 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. Currently, e-STORAGE operates
two fully automated, state-of-the-art manufacturing facilities with
an annual battery production capacity of 20 GWh. For more info,
please refer to the Media&PR section
of www.csestorage.com and follow
our LinkedIn page.
About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP)
today is the world's largest dedicated fund manager within
greenfield renewable energy investments and a global leader in
offshore wind. The funds managed by CIP focus on investments in
offshore and onshore wind, solar PV, biomass and energy-from-waste,
transmission and distribution, reserve capacity, storage, advanced
bioenergy, and Power-to-X.
CIP manages 12 funds and has to date raised approximately
EUR 31 billion for investments in
energy and associated infrastructure from more than 180
international institutional investors. CIP has approximately 500
employees and 14 offices around the world. For more information,
visit www.cip.com.
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 power and battery energy storage
market and industry; geopolitical tensions and conflicts, including
impasses, sanctions and export controls; volatility, uncertainty,
delays and disruptions related to global pandemics; supply chain
disruptions; governmental support for the deployment of solar
power and battery energy storage; future available supplies of
silicon, solar wafers and lithium cells; 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 China,
the U.S., Europe, Brazil and Japan;
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;
the pipeline of projects and timelines related to them; the ability
of the parties to optimize value of that pipeline; 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; 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 26, 2024. 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 CONTACT
Wina Huang
Investor Relations Canadian Solar Inc.
investor@canadiansolar.com
e-STORAGE MEDIA CONTACT
Simona
Marginean
e-STORAGE Marketing Manager
simona.marginean@csestorage.com
CIP MEDIA CONTACT
Sophie Fitzpatrick
Vice President, Public Affairs
sfit@cisc.dk
View original
content:https://www.prnewswire.com/news-releases/canadian-solars-e-storage-to-deliver-960-mwh-of-energy-storage-systems-for-copenhagen-infrastructure-partners-in-australia-302372164.html
SOURCE Canadian Solar Inc.
