Canadian Solar announces the rebranding of its CSI Solar energy storage division to e-STORAGE and accelerates growth in deployment of utility-scale energy storage
e-STORAGE, a subsidiary of CSI Photo voltaic, deploys main, versatile, turnkey vitality storage options worldwide
Canadian Photo voltaic Inc. (the “Firm” or “Canadian Photo voltaic”) (NASDAQ: CSIQ) and its majority-owned subsidiary CSI Photo voltaic (SSE: 688472), at this time introduced the re-branding of e-STORAGE, the utility-scale at CSI Photo voltaic. subsidiary and battery vitality storage platform. With e-STORAGE, Canadian Photo voltaic will speed up its progress within the world vitality storage market and can function as a separate enterprise unit, beneath CSI Photo voltaic. Beforehand, e-STORAGE operated as CSI Power Storage.
e-STORAGE launches with practically 26 GWh of vitality storage tasks throughout its pipeline and over $1.7 billion in income contracts in July 2023, up from $1 billion in January 2023. It offers vital properly progress for e-STORAGE for a few years time.
On the core of the e-STORAGE platform is SolBank, a self-manufactured, lithium-iron phosphate chemistry-based battery engineered for utility-scale functions. With SolBank’s proprietary product, e-STORAGE gives its clients end-to-end, turnkey battery storage options. At present, the Firm has deployed greater than 2.7 GWh of battery vitality storage options throughout america, Canada, the UK, and China. The Firm gives end-to-end vitality storage options and providers, made potential by robust manufacturing capabilities and cutting-edge merchandise equivalent to SolBank.
e-STORAGE at the moment operates two totally automated, state-of-the-art, and industry-leading manufacturing services and hopes to achieve an annual capability of 10 GWh. e-STORAGE is totally outfitted to proceed to offer prime quality, scalable vitality storage options and contribute to the widespread adoption of unpolluted vitality.
Dr. Shawn Qu, Chairman and CEO of Canadian Photo voltaic, commented, “We’re excited to launch e-STORAGE and speed up the expansion of our built-in utility-scale battery vitality storage enterprise. Battery vitality storage continues to develop in significance and worth for our clients as they proceed to ship renewable vitality and assist additional decarbonize energy grids. long-standing photo voltaic enterprise.”
International vitality storage installations are anticipated to develop 15-fold by 2030 and Bloomberg New Power Finance additional estimates that roughly 1,100 GWh of latest vitality storage capability might be added worldwide from from 2022 to 2030. As one of the vital bankable corporations within the photo voltaic and renewable vitality {industry}, Canadian Photo voltaic is properly positioned to serve its rising variety of clients demanding new storage merchandise and options.
About Canadian Photo voltaic Inc.
Canadian Photo voltaic was based in 2001 in Canada and is without doubt one of the largest photo voltaic know-how and renewable vitality corporations on this planet. It’s a main producer of photo voltaic photovoltaic modules, supplier of photo voltaic vitality and battery storage options, and developer of utility-scale solar energy and battery storage tasks with a geographically diversified pipeline in varied phases of improvement. Over the previous 22 years, Canadian Photo voltaic has efficiently delivered practically 94 GW of premium high quality, photo voltaic photovoltaic modules to clients world wide. Likewise, since coming into the venture improvement enterprise in 2010, Canadian Photo voltaic has developed, constructed, and related greater than 8.8 GWp in additional than 20 international locations world wide. At present, the Firm has roughly 609 MWp of photo voltaic tasks in operation, 6.9 GWp of tasks beneath building or within the backlog (late stage), and an extra 17.7 GWp of pipeline tasks (mid- mid-early stage). Canadian Photo voltaic is without doubt one of the most bankable corporations within the photo voltaic and renewable vitality {industry}, publicly listed on NASDAQ since 2006. As well as, Canadian Photo voltaic accomplished its preliminary public providing (“IPO”) which course of and its shares started buying and selling on the Shanghai Inventory Trade’s Sci-Tech Innovation Board on June 9, 2023, beneath inventory code 688472. For extra details about the Firm, observe Canadian Photo voltaic on LinkedIn or go to www .canadiansolar.com.
