Canadian Solar's e-STORAGE to Power 200 MWh Energy Storage Project in Southeastern Australia (2024)

Canadian Solar's e-STORAGE to Power 200 MWh Energy Storage Project in Southeastern Australia

GUELPH,ON, Aug. 7, 2024 /PRNewswire/ -- CanadianSolar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) todayannounced that e-STORAGE, which is part of the Company'smajority-owned subsidiary CSI Solar Co., Ltd. ("CSI Solar"), hasbeen awarded a turnkey EPC contract for 100 MW / 200 MWh energystorage solutions by Fotowatio Renewable Ventures (FRV)Australia for its Terang energystorage project in Victoria,Australia. FRV Australia, part of Jameel Energy and theCanadian infrastructure fund OMERS, is a leading developer ofsustainable energy solutions.

e-STORAGE and FRV Australia have entered into an Energy StorageSupply Agreement and a Long-Term Service Agreement. Construction ofthe project is scheduled to commence in August 2024.

e-STORAGE will deliverSolBank 3.0, its latest proprietaryenergy storage solution, for the Terang project. SolBank 3.0provides over 5 MWh of capacity in a 20-ft container. Compared withthe previous generation, SolBank 3.0 offers a 45% increase incapacity and a 12% reduction in the project layout space. Inaddition,SolBank 3.0's efficient cooling system can reduceauxiliary energy consumption by 30%. The system also includes amulti-level fire detector, alarm, andextinguishingsystemto mitigate thermal risks.

Located in Terang, Victoria,the project will be FRV Australia's first standalone energy storageproject andis expected to create many jobsduring boththe construction and operational phases.

Carlo Frigerio, CEO of FRVAustralia, commented: "Building our first large-scale energystorage project is a major milestone for FRV Australia. Thisproject strengthens our place in the renewable energy sector inAustralia. It paves the way forfuture business opportunitiesand growth in ourportfolio".

Colin Parkin, President ofe-STORAGE, added: "We really appreciate FRV Australia's trustin e-STORAGE, having chosen us to build this 100 MW / 200 MWhenergy storage system in Terang, Australia. Leveraging our advanced SolBank 3.0technology, this project not only bolsters the grid during peakdemand, but also delivers substantial benefits to the localcommunity. We look forward to working with FRV Australia infuture".

AboutCanadian Solar Inc.

Canadian Solar was founded in 2001 in Canada and is one of the world's largest solartechnology and renewable energy companies. It is a leadingmanufacturer of solar photovoltaic modules, provider of solarenergy and battery energy storage solutions, and developer ofutility-scale solar power and battery energy storage projects witha geographically diversified pipeline in various stages ofdevelopment. Over the past 23 years, Canadian Solar hassuccessfully delivered over 125 GW of premium-quality, solarphotovoltaic modules to customers across the world. Likewise, sinceentering the project development business in 2010, Canadian Solarhas developed, built, and connected over 10 GWp of solar powerprojects and 3.3 GWh of battery energy storage projects across theworld. Currently, the Company has over 1.2 GWp of solar powerprojects in operation, 6.5 GWp of projects under construction or inbacklog (late-stage), and an additional 19.8 GWp of projects inadvanced and early-stage pipeline. In addition, the Company has 600MWh of battery energy storage projects in operation and a totalbattery energy storage project development pipeline of around 56GWh, including approximately 4.3 GWh under construction or inbacklog, and an additional 51.6 GWh at advanced and early-stagedevelopment. Canadian Solar is one of the most bankable companiesin the solar and renewable energy industry, having been publiclylisted on the NASDAQ since 2006.For additional informationabout the Company, follow Canadian Solar onLinkedInorvisit www.canadiansolar.com.

About e-STORAGE

e-STORAGE is a subsidiaryof Canadian Solar and a leadingcompany specializing in designing, manufacturing, and integratingbattery energy storage systems for utility-scale applications.e-STORAGE offers proprietary battery energy storage solutions,comprehensive EPC services, and innovative solutions aimed atimproving grid operations. e-STORAGE has shipped close to 5.7 GWhDC of battery energy storage solutions to global markets, includingthe United States, Canada, the UnitedKingdom, and China as ofMarch 2024. This significantaccomplishment solidifies e-STORAGE's position as a key player inthe global energy storage integration industry. Currently,e-STORAGE operates two fully automated, state-of-the-artmanufacturing facilities with an annual production capacity of 20GWh energy storage solutions. For more info, please refer to theMedia&PR section of www.csestorage.comand follow theLinkedInpage.

About FRV Australia

FRV was one of the first international solar developers to enterthe Australian market and developed its first Australian solar PVproject pipeline in 2011 opening the local solar market. FRV wasalso the first company to deliver a project-financed large-scalesolar farm in Australia with theRoyalla Solar Farm near Canberraoperating since August 2014. To date,the company has developed over 1 GW of PV assets built or underconstruction across 10 projects. The activities are based inSydney and the company has amultidisciplinary team of over 80 employees. In October 2021 FRV partnered with OMERSInfrastructure signing an agreement for the sale of 49% of FRVAustralia. The partnership with a top tier investor such as OMERSis a strong signal of confidence in the high value of FRV'sportfolio of projects and pipeline and it will accelerate thegrowth plans for the company in Australia. For more information, please visit:frv.com  

About FRV  

FRV, part of Jameel Energy, is a leading global renewable energydevelopment company. In line with our ambition to continue leadingthe global transition to a more sustainable energy future, FRV hasevolved from being just a developer to becoming an independentpower producer.  We aim to be the world's leading green energy andinfrastructure platform.  For more information, pleasevisit: frv.com    

Safe Harbor/Forward-Looking Statements

Certain statements in this press release are forward-lookingstatements that involve a number of risks and uncertainties thatcould cause actual results to differ materially. These statementsare made under the "Safe Harbor" provisions of the U.S. PrivateSecurities Litigation Reform Act of 1995. In some cases, you canidentify forward-looking statements by such terms as "believes,""expects," "anticipates," "intends," "estimates," the negative ofthese terms, or other comparable terminology. Factors that couldcause actual results to differ include general business, regulatoryand economic conditions and the state of the solar and batterystorage market and industry; geopolitical tensions and conflicts,including impasses, sanctions and export controls; volatility,uncertainty, delays and disruptions related to the COVID-19pandemic; supply chain disruptions; governmental support for thedeployment of solar power; future available supplies of high-puritysilicon; demand for end-use products by consumers and inventorylevels of such products in the supply chain; changes in demand fromsignificant customers; changes in demand from major markets, suchas Japan, the U.S., China, Braziland Europe; changes in effectivetax rates; changes in customer order patterns; changes in productmix; changes in corporate responsibility, especially environmental,social and governance ("ESG") requirements; capacity utilization;level of competition; pricing pressure and declines in or failureto timely adjust average selling prices; delays in new productintroduction; delays in utility-scale project approval process;delays in utility-scale project construction; delays in thecompletion of project sales; continued success in technologicalinnovations and delivery of products with the features thatcustomers demand; shortage in supply of materials or capacityrequirements; availability of financing; exchange and inflationrate fluctuations; litigation and other risks as described inCanadian Solar's filings with the Securities and ExchangeCommission, including its annual report on Form 20-F filed onApril 26, 2024. Although CanadianSolar and Recurrent Energy believe that the expectations reflectedin the forward-looking statements are reasonable, it cannotguarantee future results, level of activity, performance, orachievements. Investors should not place undue reliance on theseforward-looking statements. All information provided in this pressrelease is as of today's date, unless otherwise stated, andCanadian Solar and Recurrent Energy undertake no duty to updatesuch 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 INQUIRIES
Simona Marginean
e-STORAGE Marketing Manager
simona.marginean@csestorage.com

FRV Media inquiries
Guillermo Agulló:guillermo.agullo@frv.com | +34 664 800 663
James Thompson:jathompson@omers.com| +44(0)7443 264 154

Canadian Solar's e-STORAGE to Power 200 MWh Energy Storage Project in Southeastern Australia (1)View originalcontent:https://www.prnewswire.com/news-releases/canadian-solars-e-storage-to-power-200-mwh-energy-storage-project-in-southeastern-australia-302216449.html

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Canadian Solar's e-STORAGE to Power 200 MWh Energy Storage Project in Southeastern Australia (2)

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(the...","one_line_short_text":" Canadian Solar's e-STORAGE to Power 200 MWh Energy Storage Project in Southeastern Australia\nPR Newswire\nGUELPH, ON, Aug. 7, 2024 GUELPH, ON...","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/canadian-solar-CSIQ\/stock-news\/94332559\/canadian-solars-e-storage-to-power-200-mwh-energy","source":"PR Newswire (US)","source_logo":"\/common\/images\/news-sources\/prnus.png","tags":[],"timestamp":1723028400,"date":"Wed Aug 07, 2024 ","time":"7:00 AM (3 days ago)","full_date":"August 7, 2024 7:00 AM","post_time":"August 07 2024","article_id":94332559,"source_id":"prnus","media_url":null,"press_release":true},{"headline":"Recurrent Energy to Bolster its Italian Clean Energy Portfolio with \u20ac50 Million Euro Facility from the European Investment Bank","short_text":" Recurrent Energy to Bolster its Italian Clean Energy Portfolio with \u20ac50 Million Euro Facility from the European Investment Bank\nPR Newswire\nGUELPH, ON, July 24, 2024 GUELPH, ON, July 24, 2024...","one_line_short_text":" Recurrent Energy to Bolster its Italian Clean Energy Portfolio with \u20ac50 Million Euro Facility from the European Investment Bank\nPR...","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/canadian-solar-CSIQ\/stock-news\/94244011\/recurrent-energy-to-bolster-its-italian-clean-ener","source":"PR Newswire (US)","source_logo":"\/common\/images\/news-sources\/prnus.png","tags":[],"timestamp":1721823360,"date":"Wed Jul 24, 2024 ","time":"8:16 AM (2 weeks ago)","full_date":"July 24, 2024 8:16 AM","post_time":"July 24 2024","article_id":94244011,"source_id":"prnus","media_url":null,"press_release":true},{"headline":"Canadian Solar Schedules Second Quarter 2024 Earnings Conference Call for August 22","short_text":" Canadian Solar Schedules Second Quarter 2024 Earnings Conference Call for August 22\nPR Newswire\nGUELPH, ON, July 23, 2024 GUELPH, ON, July 23, 2024 \/PRNewswire\/ -- Canadian Solar Inc. (\"the...","one_line_short_text":" Canadian Solar Schedules Second Quarter 2024 Earnings Conference Call for August 22\nPR Newswire\nGUELPH, ON, July 23, 2024 GUELPH, ON, July 23...","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/canadian-solar-CSIQ\/stock-news\/94235154\/canadian-solar-schedules-second-quarter-2024-earni","source":"PR Newswire (US)","source_logo":"\/common\/images\/news-sources\/prnus.png","tags":[],"timestamp":1721732400,"date":"Tue Jul 23, 2024 ","time":"7:00 AM (3 weeks ago)","full_date":"July 23, 2024 7:00 AM","post_time":"July 23 2024","article_id":94235154,"source_id":"prnus","media_url":null,"press_release":true},{"headline":"Canadian Solar's e-STORAGE to Deliver Battery Energy Storage Solutions to Root-Power's Coryton Project in the UK","short_text":" Canadian Solar's e-STORAGE to Deliver Battery Energy Storage Solutions to Root-Power's Coryton Project in the UK\nPR Newswire\nGUELPH, ON, July 18, 2024 GUELPH, ON, July 18, 2024 \/PRNewswire\/...","one_line_short_text":" Canadian Solar's e-STORAGE to Deliver Battery Energy Storage Solutions to Root-Power's Coryton Project in the UK\nPR Newswire\nGUELPH, ON, July 18...","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/canadian-solar-CSIQ\/stock-news\/94214707\/canadian-solars-e-storage-to-deliver-battery-energ","source":"PR Newswire (US)","source_logo":"\/common\/images\/news-sources\/prnus.png","tags":[],"timestamp":1721300400,"date":"Thu Jul 18, 2024 ","time":"7:00 AM (3 weeks ago)","full_date":"July 18, 2024 7:00 AM","post_time":"July 18 2024","article_id":94214707,"source_id":"prnus","media_url":null,"press_release":true},{"headline":"Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]","short_text":"","one_line_short_text":"","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/canadian-solar-CSIQ\/stock-news\/94210352\/form-6-k-report-of-foreign-issuer-rules-13a-16","source":"Edgar (US Regulatory)","source_logo":"\/common\/images\/news-sources\/edgar2.png","tags":["REGULATORY"],"timestamp":1721246462,"date":"Wed Jul 17, 2024 ","time":"4:01 PM (3 weeks ago)","full_date":"July 17, 2024 4:01 PM","post_time":"July 17 2024","article_id":94210352,"source_id":"edgar2","media_url":null,"press_release":true},{"headline":"Recurrent Energy Signs PPA with GKN Automotive for 115 MWp Rey I Project in Spain","short_text":" Recurrent Energy Signs PPA with GKN Automotive for 115 MWp Rey I Project in Spain\nPR Newswire\nGUELPH, ON, July 10, 2024 GUELPH, ON, July 10, 2024 \/PRNewswire\/ -- Recurrent Energy, a subsidiary of...","one_line_short_text":" Recurrent Energy Signs PPA with GKN Automotive for 115 MWp Rey I Project in Spain\nPR Newswire\nGUELPH, ON, July 10, 2024 GUELPH, ON, July 10, 2024...","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/canadian-solar-CSIQ\/stock-news\/94171798\/recurrent-energy-signs-ppa-with-gkn-automotive-for","source":"PR Newswire (US)","source_logo":"\/common\/images\/news-sources\/prnus.png","tags":[],"timestamp":1720609200,"date":"Wed Jul 10, 2024 ","time":"7:00 AM (1 month ago)","full_date":"July 10, 2024 7:00 AM","post_time":"July 10 2024","article_id":94171798,"source_id":"prnus","media_url":null,"press_release":true},{"headline":"Canadian Solar's e-STORAGE to Deliver 498 MWh DC of Battery Storage Solutions for Aypa Power's Bypass Project in Texas","short_text":" Canadian Solar's e-STORAGE to Deliver 498 MWh DC of Battery Storage Solutions for Aypa Power's Bypass Project in Texas\nPR Newswire\nGUELPH, ON, July 9, 2024 GUELPH, ON, July 9, 2024 \/PRNewswire\/...","one_line_short_text":" Canadian Solar's e-STORAGE to Deliver 498 MWh DC of Battery Storage Solutions for Aypa Power's Bypass Project in Texas\nPR Newswire\nGUELPH, ON...","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/canadian-solar-CSIQ\/stock-news\/94164440\/canadian-solars-e-storage-to-deliver-498-mwh-dc-of","source":"PR Newswire (US)","source_logo":"\/common\/images\/news-sources\/prnus.png","tags":[],"timestamp":1720522800,"date":"Tue Jul 09, 2024 ","time":"7:00 AM (1 month ago)","full_date":"July 9, 2024 7:00 AM","post_time":"July 09 2024","article_id":94164440,"source_id":"prnus","media_url":null,"press_release":true},{"headline":"Canadian Solar's e-STORAGE to Deliver Nova Scotia's First Grid-Scale Battery Energy Storage Facilities","short_text":" Canadian Solar's e-STORAGE to Deliver Nova Scotia's First Grid-Scale Battery Energy Storage Facilities\nPR Newswire\nGUELPH, ON, July 8, 2024 GUELPH, ON, July 8, 2024 \/PRNewswire\/ -- Canadian Solar...","one_line_short_text":" Canadian Solar's e-STORAGE to Deliver Nova Scotia's First Grid-Scale Battery Energy Storage Facilities\nPR Newswire\nGUELPH, ON, July 8, 2024...","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/canadian-solar-CSIQ\/stock-news\/94157457\/canadian-solars-e-storage-to-deliver-nova-scotias","source":"PR Newswire (US)","source_logo":"\/common\/images\/news-sources\/prnus.png","tags":[],"timestamp":1720436400,"date":"Mon Jul 08, 2024 ","time":"7:00 AM (1 month ago)","full_date":"July 8, 2024 7:00 AM","post_time":"July 08 2024","article_id":94157457,"source_id":"prnus","media_url":null,"press_release":true},{"headline":"Recurrent Energy Closes $103 Million Tax Credit Transfer Agreement with Bank of America for North Fork Solar Project","short_text":" Recurrent Energy Closes $103 Million Tax Credit Transfer Agreement with Bank of America for North Fork Solar Project\nPR Newswire\nGUELPH, ON, June 27, 2024 The 160 MW North Fork Solar Project is...","one_line_short_text":" Recurrent Energy Closes $103 Million Tax Credit Transfer Agreement with Bank of America for North Fork Solar Project\nPR Newswire\nGUELPH, ON, June...","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/canadian-solar-CSIQ\/stock-news\/94110960\/recurrent-energy-closes-103-million-tax-credit-tr","source":"PR Newswire (US)","source_logo":"\/common\/images\/news-sources\/prnus.png","tags":[],"timestamp":1719486000,"date":"Thu Jun 27, 2024 ","time":"7:00 AM (1 month ago)","full_date":"June 27, 2024 7:00 AM","post_time":"June 27 2024","article_id":94110960,"source_id":"prnus","media_url":null,"press_release":true},{"headline":"Canadian Solar Inc. Announces Results of 2024 Annual Meeting of Shareholders","short_text":" Canadian Solar Inc. Announces Results of 2024 Annual Meeting of Shareholders\nPR Newswire\nGUELPH, ON, June 21, 2024 GUELPH, ON, June 21, 2024 \/PRNewswire\/ -- Canadian Solar Inc. (the \"Company\" or...","one_line_short_text":" Canadian Solar Inc. Announces Results of 2024 Annual Meeting of Shareholders\nPR Newswire\nGUELPH, ON, June 21, 2024 GUELPH, ON, June 21, 2024...","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/canadian-solar-CSIQ\/stock-news\/94083683\/canadian-solar-inc-announces-results-of-2024-annu","source":"PR Newswire (US)","source_logo":"\/common\/images\/news-sources\/prnus.png","tags":[],"timestamp":1718967600,"date":"Fri Jun 21, 2024 ","time":"7:00 AM (2 months ago)","full_date":"June 21, 2024 7:00 AM","post_time":"June 21 2024","article_id":94083683,"source_id":"prnus","media_url":null,"press_release":true},{"headline":"Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]","short_text":"","one_line_short_text":"","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/canadian-solar-CSIQ\/stock-news\/94076747\/form-6-k-report-of-foreign-issuer-rules-13a-16","source":"Edgar (US Regulatory)","source_logo":"\/common\/images\/news-sources\/edgar2.png","tags":["REGULATORY"],"timestamp":1718882783,"date":"Thu Jun 20, 2024 ","time":"7:26 AM (2 months ago)","full_date":"June 20, 2024 7:26 AM","post_time":"June 20 2024","article_id":94076747,"source_id":"edgar2","media_url":null,"press_release":true},{"headline":"Canadian Solar Partners with Lifestyle Solar to Deliver Residential Solar and Energy Storage Solutions to California Homebuilders","short_text":" Canadian Solar Partners with Lifestyle Solar to Deliver Residential Solar and Energy Storage Solutions to California Homebuilders\nPR Newswire\nGUELPH, ON, June 20, 2024 GUELPH, ON, June 20, 2024...","one_line_short_text":" Canadian Solar Partners with Lifestyle Solar to Deliver Residential Solar and Energy Storage Solutions to California Homebuilders\nPR...","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/canadian-solar-CSIQ\/stock-news\/94076636\/canadian-solar-partners-with-lifestyle-solar-to-de","source":"PR Newswire (US)","source_logo":"\/common\/images\/news-sources\/prnus.png","tags":[],"timestamp":1718881200,"date":"Thu Jun 20, 2024 ","time":"7:00 AM (2 months ago)","full_date":"June 20, 2024 7:00 AM","post_time":"June 20 2024","article_id":94076636,"source_id":"prnus","media_url":null,"press_release":true}],"Preferred Contributors": ""}},created: function () {this.loaded = true;Vue.nextTick(function(){});}});});

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