e-STORAGE to Deliver 66 MWh of Energy Storage Solutions for Sunraycer’s Eagle Springs Project in Texas

KITCHENER, ON and DALLAS, TX — October 23 — e-STORAGE, the utility-scale battery energy storage business of CSI Solar Co., Ltd., today announced the signing of a Battery Storage Agreement (BSA) and Long-Term Service Agreement (LTSA) with Sunraycer, a leading developer, owner, and operator of clean energy power sites, for the Eagle Springs Battery Energy Storage Project in Delta County, Texas.

The Eagle Springs Project is a 33 MW / 66 MWh, 2-hour battery energy storage system situated northeast of Dallas. It will feature e-STORAGE’s proprietary SolBank 3.0 platform, which incorporates lithium-iron-phosphate (LFP) battery technology, an active balancing battery management system, and an advanced liquid cooling system for superior performance and safety.

The project will be backed by a 10-year LTSA covering preventive maintenance, monitoring, and performance guarantees. Under the agreement, deliveries are expected to commence in September 2026, with the project targeting commercial operation on November 15, 2026.

David Lillefloren, CEO of Sunraycer commented: “Sunraycer is excited to partner with Canadian Solar’s e-STORAGE business for our upcoming Eagle Springs project.  As part of Sunraycer’s expanding pipeline of 2 GW of BESS projects under development, Eagle Springs will deploy e-STORAGE’s SolBank 3.0 solution to bolster the ERCOT grid and help ensure Texans have access to reliable, cost-effective, and sustainable power solutions.”

Colin Parkin, President of e-STORAGE commented: “Texas is one of the largest and most dynamic power markets in the U.S., making it a critical showcase for battery storage. With our proven energy storage technology and growing presence in ERCOT, e-STORAGE is well positioned to deliver reliable, utility-scale projects like Eagle Springs.”

This milestone further highlights the increasing importance of battery storage in supporting renewable energy integration and enhancing grid flexibility across Texas and North America.

About Canadian Solar Inc.

Canadian Solar is one of the world’s largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 24 years, Canadian Solar has successfully delivered nearly 165 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 13 GWh of battery energy storage solutions to global markets as of June 30, 2025, boasting a $3 billion contracted backlog as of June 30, 2025. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12 GWp of solar power projects and 6 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 27 GWp of solar and 80 GWh of battery energy storage capacity in various stages of development. 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.

About e-STORAGE

e-STORAGE is a subsidiary of Canadian Solar and a leading company specializing in designing, manufacturing, and integrating battery energy storage systems for utility-scale applications. e-STORAGE offers proprietary battery energy storage solutions, comprehensive EPC services, and innovative solutions aimed at improving grid operations. Currently, e-STORAGE operates fully automated, state-of-the-art manufacturing facilities with an annual battery energy storage system capacity of 10 GWh and battery cell capacity of 3 GWh. For more info, please refer to the Media & PR section of www.csestorage.com and follow our LinkedIn page.

About Sunraycer

Sunraycer, a Crayhill Capital Management portfolio company, is a rapidly-growing, Annapolis, Maryland-based renewable energy platform that has a development and construction stage pipeline of approximately 2 GW of solar and 2 GW of BESS utility-scale power plants. Sunraycer provides pre-NTP and acquisition capital to developers involved in all types of renewable energy endeavors. Its goal is to streamline the complexities of development and eliminate financing challenges for the developer community. Sunraycer leverages enterprise-scale partnerships with proven industry leaders, as well as an experienced and driven in-house team of renewable energy experts, to accelerate the deployment of development-stage projects. For more information, please visit Sunraycer’s website at https://sunraycer.com/ or follow Sunraycer on LinkedIn for the latest company news and events.

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 power and battery energy storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to global pandemics; supply chain disruptions; governmental support for the deployment of solar power and battery energy storage; future available supplies of silicon, solar wafers and lithium cells; 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 China, the U.S., Europe, Brazil and Japan; 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; the pipeline of projects and timelines related to them; the ability of the parties to optimize value of that pipeline; 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; 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 30, 2025. 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.

Sunraycer Media Inquiries
Jake Forrestal
Prosek Partners
pro-crayhill@prosek.com