CSI Energy Storage, a subsidiary of Canadian Solar, announces that it will supply 2.6GWh of battery solutions in North America.
An expansion strategy
CSI Energy Storage will support energy storage projects managed by UBS Asset Management’s Real Estate & Private Markets division. The company is looking to expand its pipeline of storage projects by expanding into the United States. These projects are expected to begin operation between 2024 and 2025.
The agreements cover utility-scale applications with a battery energy storage solution called SolBank. Canadian Solar will also provide full commissioning and integration services. The scale of these projects will make it possible to meet storage needs, particularly in situations of shortage.
Finally, it is a solution that will prevent outages by responding to operator dispatch signals. Shawn Qu, President and CEO of Canadian Solar, says:
“SolBank, our proprietary battery storage product, offers the best security and cost competitiveness in the market. Our agreement with UBS demonstrates our ability to attract leading investors and deliver battery energy storage solutions at the scale and in the timeframe required by our customers.”
Canadian Solar is a leading solar and renewable energy technology company.
A recognized company
Mark Saunders, the co-head of energy storage infrastructure at UBS Asset Management, states:
“Batteries used at utility scale are a critical component of the energy transition. We are pleased to be able to partner with a leading provider to enable us to rapidly scale our energy storage solutions and look forward to working alongside CSI Energy Storage to deliver benefits to all our stakeholders.”
Canadian Solar has an extremely diverse geographic pipeline. CSI Energy Storage has operations in more than 20 countries, including the United States, Canada, the United Kingdom and China.
The new solutions deployed by CSI Energy Storage should help strengthen its position in North America. In total, the company operates over 311MWp of solar projects. It also has 5.3GWp of projects under construction.
Finally, Canadian Solar plans to build an additional 21 GWp of projects in the coming years. CSI Energy Storage reaches a total pipeline of 25GW. These are energy storage solutions and services, based on products like SolBank.
