GUELPH, ON, May 9, 2022 /PRNewswire/ — Canadian Solar Inc. (“Canadian Solar” or the “Company”) (NASDAQ: CSIQ) today announced it has entered the utility scale energy storage market in the United Kingdom after signing the agreements to provide integrated energy storage systems, and Engineering, Procurement and Construction (EPC) services for four battery storage projects. Pulse Clean Energy is the owner of the four projects of more than 100 MWh. The agreements mark the start of a long-term partnership between the companies.
In addition to providing the battery storage systems and construction services, Canadian Solar will maintain and operate the projects via a 10-year long-term service agreement (LTSA).
Canadian Solar’s solutions will enable Pulse Clean Energy to optimize ancillary grid-services, enhance energy balancing capabilities, and capture multiple streams of revenue.
Dr. Shawn Qu, Canadian Solar Chairman and CEO, commented, “We are grateful to be selected by Pulse Clean Energy to construct its first battery storage projects. Over the past 3 years, we have built a track record of 2.5 GWh for energy storage in the United States. Now, customers in other markets are turning to us. Such partnerships in implementing energy storage strategies are instrumental to support the clean energy transition.”
Trevor Wills, COO of Pulse Clean Energy, provided the following comment, “These projects mark the start of our battery conversion program in the UK. We previously acquired nine diesel generation sites, with a vision to decommission and repurpose these locations as grid-scale storage and energy optimisation assets.” He added, “Battery storage has a critical role to play in energy system stability, and we are excited to be working with the team at Canadian Solar, which has a strong track record in deploying grid-scale renewable and energy storage technologies.”
As of January 31, 2022, Canadian Solar’s energy storage portfolio includes 300 MWh of projects under a long-term service agreement, 2,043 MWh of projects under construction and a remaining pipeline of over 4 GWh. Canadian Solar’s Energy Storage Team continues to expand its regional footprint, executing storage projects and deploying resources in Canada, the United States, the United Kingdom, Australia, and China.
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world’s largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 20 years, Canadian Solar has successfully delivered over 67 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built and connected over 6.3 GWp in over 20 countries across the world. Currently, the Company has around 445 MWp of solar projects in operation, nearly 6 GWp of projects under construction or in backlog (late-stage), and an additional 18.6 GWp of projects in pipeline (mid- to early- stage). 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.
Pulse Clean Energy is focused on investing in projects to support the transition to a zero-carbon energy system, by developing and operating grid-scale battery storage sites. Pulse Clean Energy’s purpose is to provide the balance and stability needed to ensure renewable energy technologies can thrive. Through innovation in energy storage and optimisation, Pulse is working to enable an energy network that runs entirely carbon free. …….