Canadian Solar's e-STORAGE to Deliver 1,200 MWh of Energy Storage Products to the Largest Energy Storage Project in Arizona
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Once operational, Papago Storage will be one of the world's largest standalone energy storage projects and the largest standalone energy storage project in
e-STORAGE currently operates two fully automated, state-of-the-art, and industry-leading manufacturing facilities with an annual capacity of 10 GWh for 2023. As of July 2023, the Company has deployed more than 2.7 GWh of battery energy storage solutions across
Yan Zhuang, President of Canadian Solar's subsidiary CSI Solar, commented, "We are excited to provide battery storage solutions to one of the most significant energy storage projects globally. The SolBank, our proprietary battery storage product, offers best-in-market product safety and cost competitiveness, and this agreement demonstrates our ability to provide battery energy storage solutions at scale and on a timeline that our customers require. Working with our partners at Recurrent Energy, we are pleased to expand into a new and growing market for energy storage and provide the much-needed flexible energy capacity to support a greener future for all."
The contract is subject to final approval from the CSI Solar board of directors and shareholders.
About Canadian Solar
Canadian Solar was founded in 2001 in
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
Ally Copple
Innovant Public Relations
713-201-8800
Ally@InnovantPR.com
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SOURCE Canadian Solar Inc.
FAQ
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