Canadian Solar to Supply 1858 MWh of Energy Storage Solution in Canada

Core Insights - Canadian Solar Inc.'s subsidiary e-STORAGE has secured a contract for the Skyview 2 Energy Storage Project, which will deliver a fully integrated energy storage solution with a capacity of 411 MW and 1,858 MWh [2][10] - The project is part of Ontario's Long-Term Reliability energy-storage procurement process and is developed in partnership with Potentia Renewables Inc. and the Algonquins of Pikwàkanagàn First Nation [3][10] - e-STORAGE will provide approximately 390 units of its SolBank 3.0 energy storage solution, with shipments starting in February 2026 and commercial operations expected in Q2 2027 [4][10] Project Details - e-STORAGE will manage system integration, substation work, and transmission line interconnection to the existing grid, along with a 21-year Long-Term Service Agreement for system performance [5][10] - The project adds to e-STORAGE's existing portfolio of 8 GWh of energy storage projects across North America, enhancing its execution track record [6] Market Growth Prospects - The North American energy storage systems market is projected to grow at a CAGR of 16.1% from 2024 to 2032, driven by the need to modernize aging grid infrastructure and increasing demand for clean energy technologies [7] - Canadian Solar's recent agreements, including a battery storage contract with Aypa Power for two projects in Ontario, will add 420 MW and 2,122 MWh of new storage capacity [8][9] Competitive Landscape - Other solar companies, such as SolarEdge Technologies and Enphase Energy, are also expanding their presence in the North American energy storage market, indicating a competitive environment [10][11] - Canadian Solar's stock has seen a significant increase of 167.7% over the past six months, outperforming the industry growth of 33.9% [15]