Meet e-STORAGE, Canadian Solar’s rebranded utility-scale storage subsidiary

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Canadian Solar Inc. announced the re-branding of CSI Energy Storage, which will now be known as e-STORAGE. This is CSI Solar’s utility-scale battery energy storage subsidiary and platform. Canadian Solar says e-STORAGE will operate as a distinct business unit, under CSI Solar.

e-STORAGE launches with nearly 26 GWh of energy storage projects in its total pipeline and over $1.7 billion of contracted revenues as of July 2023, up from $1 billion in January 2023. To date, the Company has deployed more than 2.7 GWh of battery energy storage solutions across the United States, Canada, the United Kingdom, and China.

The company offers end-to-end energy storage solutions and services and manufacturing capabilities, headlined by its core product SolBank — a lithium-iron phosphate chemistry-based battery engineered for utility-scale applications.

e-STORAGE currently operates two fully automated manufacturing facilities and expects to reach an annual capacity of 10 GWh.

“We are thrilled to launch e-STORAGE and accelerate the growth of our integrated utility-scale battery energy storage business,” states Shawn Qu, Chairman and CEO of Canadian Solar. “Battery energy storage continues to grow in importance and value for our customers as they continue to deploy renewable energy and help to further decarbonize power grids. By creating a distinct e-STORAGE brand for our utility-scale turnkey battery storage business, we are further demonstrating that our battery energy storage business has risen to equal significance of long-standing solar business.”

Energy storage installations around the world are expected to grow 15-fold by 2030 and Bloomberg New Energy Finance further estimates that approximately 1,100 GWh of new energy storage capacity will be added globally from 2022 to 2030.

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