Canadian Solar’s Subsidiary, e-STORAGE, Secures Major Battery Energy Storage Projects in the US
KITCHENER, ON, March 6, 2025
Canadian Solar Inc. (Canadian Solar), a leading solar power solution provider, announced today that its majority-owned subsidiary, CSI Solar Co., Ltd. (CSI Solar), has secured Battery Supply Agreements and Long-Term Service Agreements (LTSA) for two major battery energy storage projects in the United States. The projects are being developed by Aypa Power.
Details of the Projects
The first project, located in California, is a 100 MW / 400 MWh battery energy storage system. The second project, situated in Texas, is a 200 MW / 800 MWh battery energy storage system.
Impact on Canadian Solar
These projects represent a significant step forward for Canadian Solar in the energy storage sector. The Company’s President and CEO, Dr. Shawn Qu, stated, “We are thrilled to collaborate with Aypa Power on these projects and to further strengthen our position in the energy storage market.”
The projects will contribute to Canadian Solar’s revenue growth and provide long-term recurring revenue through the LTSAs. Moreover, they will enable the Company to showcase its technology and expertise in the energy storage sector, potentially leading to new business opportunities.
Impact on Consumers
These battery energy storage projects will help address the growing need for energy storage solutions as renewable energy sources become increasingly prevalent. The energy storage systems will allow for the efficient management of renewable energy, ensuring a stable power grid and reducing power outages. Additionally, they will enable consumers to store excess energy generated by their solar panels for later use, thereby reducing their reliance on traditional energy sources and lowering their electricity bills.
Impact on the World
The adoption of battery energy storage systems is crucial for the global transition towards renewable energy. According to the International Energy Agency, battery capacity is expected to grow from 175 GW in 2020 to 3,000 GW by 2040. These projects by Canadian Solar and Aypa Power are a step in the right direction, contributing to the global energy storage capacity and reducing carbon emissions.
Conclusion
Canadian Solar’s subsidiary, e-STORAGE, has secured Battery Supply Agreements and LTSAs for two major battery energy storage projects in the United States, marking an important milestone for the Company in the energy storage sector. These projects will not only contribute to Canadian Solar’s growth but also provide consumers with efficient energy management solutions and contribute to the global transition towards renewable energy. The future of energy storage is bright, and Canadian Solar is well-positioned to be a part of this exciting journey.
- Canadian Solar’s subsidiary, CSI Solar, secures battery energy storage projects in the US.
- The projects, developed by Aypa Power, have a combined capacity of 300 MW / 1,200 MWh.
- They will help address the growing need for energy storage solutions and contribute to the global transition towards renewable energy.
- The projects will provide Canadian Solar with revenue growth and long-term recurring revenue.
- Consumers will benefit from efficient energy management solutions and lower electricity bills.
