CERO, UK: 49.5MW/99MWh

CERO, UK: 49.5MW/99MWh

GUELPH, ON, June 1, 2023 — Canadian Solar Inc. (the “Company” or “Canadian Solar”) (NASDAQ: CSIQ) today announced that CSI Energy Storage a subsidiary of its majority-owned subsidiary CSI Solar Co., Ltd. (“CSI Solar”), has entered into an agreement to deliver 49.5MW/99MWh of turnkey battery energy storage solutions to a leading European specialist in solar energy development, production and storage, Cero Generation (“Cero”), and Enso Energy (Enso). Cero’s 11 GW development portfolio is one of the largest in Europe, covering utility-scale solar as well as integrated energy storage solutions.

Cero, together with their UK development partner Enso, will utilize CSI Energy Storage’s SolBank products for their 49.5MW/99MWh battery energy storage system, which is co-located with the Larks Green solar PV project in South Gloucestershire, United Kingdom. The Larks Green solar PV project is the UK’s first transmission-connected solar farm. Also owned and operated by Cero and Enso, it was energized in May 2023.

(Cero’s 11 GW development portfolio is one of the largest in Europe, covering utility-scale solar as well as integrated energy storage solutions)

CSI Energy Storage will also provide full commissioning and integration services for the projects, in addition to long-term operations and maintenance, warranties and performance guarantees. The projects covered by the agreement are expected to reach commercial operation in late 2024.

Marta Martinez Queimadelos, CEO of Cero Generation, said, “We’re thrilled to have established a strong and long-term partnership with CSI Energy Storage through this project, which will be our first battery energy storage system to enter the construction phase. We’re looking forward to growing this relationship as we commercialize our pipeline of energy storage projects across Europe.”

Ian Harding, Director of Enso Energy, said: “At Enso Energy we are really pleased that we are now able to work with Canadian Solar to build upon the success of Larks Green being the first UK transmission connected solar farm. Adding Canadian Solar’s battery energy storage systems at the site will further optimize the use of the land as well as the grid connection there and be able to provide the electricity grid with more of the flexibility it desperately needs to transition to net zero.”

Dr. Shawn Qu, Chairman and CEO of Canadian Solar, added, “We are proud to support Cero Generation as they develop the storage projects needed to support Britain’s energy transition. To date, CSI Energy Storage has deployed around 2.7 GWh of battery energy storage solutions across the UK, U.S., Canada, and China, and has now executed agreements to deliver 739 MWh of energy storage solutions to projects throughout the UK.”

Please read more here: https://investors.canadiansolar.com/news-releases/news-release-details/canadian-solars-csi-energy-storage-enters-supply-agreement-cero