The brand new settlement expands Pulse Clear Vitality and CSI Vitality Storage’s multi-year relationship
GUELPH, ON, Jan. 4, 2023 /PRNewswire/ — Canadian Photo voltaic Inc. (the “Firm” or “Canadian Photo voltaic”) (NASDAQ: CSIQ) right this moment introduced that CSI Vitality Storage, a part of its majority-owned subsidiary CSI Photo voltaic Co., Ltd. (“CSI Photo voltaic”), has been chosen to produce as much as 550 MWh of SolBank’s power storage merchandise to Pulse Clear Vitality (“Pulse”) to be used in varied UK-based initiatives.
The 550 MWh power storage initiatives lined by the settlement will use CSI Vitality Storage’s SolBank, a proprietary battery power storage resolution designed and manufactured for utility-scale purposes. Below the settlement, CSI Vitality Storage may also present commissioning providers for the merchandise, along with long-term warranties and efficiency ensures.
The brand new settlement expands CSI Vitality Storage’s relationship with Pulse. on Could 2022Pulse introduced that it has chosen CSI Vitality Storage to offer the engineering, procurement, and building providers a complete of 100 MWh in 4 initiatives. The settlement additionally features a 10-year Lengthy Time period Companies Settlement (LTSA) for the operation and upkeep of the services.
Trevor WillsCOO of Pulse Clear Vitality, offered the next remark, “This huge order dedication underlines the viability of Pulse’s mission pipeline and our dedication to strengthening UK power safety by attaining 1 GW+ of put in capability within the close to time period. efforts corresponding to each MW of storage we set up will enable domestically produced wind and photo voltaic to effectively and reliably serve UK clients.”
Pulse has developed a pipeline of greater than 2,000 MWh of grid-scale battery storage and power optimization alternatives throughout the UK. CSI Vitality Storage’s SolBank will likely be deployed to help grid capability wants at a number of websites and extra websites throughout the UK.
on September 2022, CSI Vitality Storage has launched SolBank, a proprietary designed and manufactured power storage battery resolution. On the identical time, CSI Vitality Storage additionally introduced the growth of battery manufacturing capability from the prevailing 2.5 GWh to 10 GWh by the tip of 2023.
dr. Shawn Qu, Chairman and CEO of Canadian Photo voltaic, commented, “We’re excited to broaden our relationship with Pulse Clear Vitality as they speed up the implementation of their pipeline of diesel-to-battery conversion initiatives and past. UK. We look ahead to supporting Pulse as they proceed to develop of their mission pipeline.”
CSI Vitality Storage has deployed greater than 2.4 GWh of battery power storage options to this point throughout the USA, Canada, the UK, and China. Till September 30, 2022, the entire pipeline of CSI Vitality Storage reached nearly 25 GWh. The Firm gives end-to-end power storage options and providers, made attainable by sturdy manufacturing capabilities and cutting-edge merchandise corresponding to SolBank.
About Canadian Photo voltaic Inc.
Canadian Photo voltaic was based in 2001 in Canada and one of many largest photo voltaic know-how and renewable power firms on the planet. It’s a main producer of photo voltaic photovoltaic modules, supplier of photo voltaic power and battery storage options, and developer of utility-scale solar energy and battery storage initiatives with a geographically diversified pipeline in varied levels of growth. Over the previous 21 years, Canadian Photo voltaic has efficiently equipped almost 82 GW of premium high quality, photo voltaic photovoltaic modules to clients all over the world. Additionally, since coming into the mission growth enterprise in 2010, Canadian Photo voltaic has developed, constructed and related greater than 7 GWp in additional than 20 nations all over the world. At present, the Firm has roughly 500 MWp of initiatives in operation, 6 GWp of initiatives beneath building or within the backlog (late-stage), and a further 19 GWp of initiatives in superior and early- stage pipeline. Canadian Photo voltaic is without doubt one of the most bankable firms within the photo voltaic and renewable power trade, publicly listed on NASDAQ since 2006. For extra details about the Firm, comply with Canadian Photo voltaic on LinkedIn or go to www. canadiansolar.com.
Protected Harbor/Ahead-Wanting Statements
Sure statements on this information launch are forward-looking statements that contain quite a few dangers and uncertainties that might trigger precise outcomes to vary materially. These statements are made beneath the “Protected Harbor” provisions of the US Non-public Securities Litigation Reform Act of 1995. In some instances, you might determine forward-looking statements by phrases corresponding to “believes,” “expects ,” “anticipates,” “intends,” “estimates,” the detrimental of those phrases, or different related terminology. Components that might trigger precise outcomes to vary embody normal enterprise, regulatory and financial situations and the state of the photo voltaic and battery storage market and trade; geopolitical tensions and conflicts, together with impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions associated to the COVID-19 pandemic; provide chain disruption; authorities help for the deployment of solar energy; future obtainable provides of high-purity silicon; demand for end-consumer merchandise and stock ranges of such merchandise within the provide chain; modifications in demand from key clients; altering demand from main markets, corresponding to Japan, the US, China, Brazil and Europe; modifications in efficient tax charges; altering buyer order patterns; product combine modifications; modifications in company duty, particularly environmental, social and governance (“ESG” necessities); capability utilization; stage of competitors; pricing strain and discount or failure to well timed regulate the typical promoting worth; delays in new product introductions; delays within the utility-scale mission approval course of; delaying utility-scale mission building; delays in finishing the sale of the mission; continued success in technological improvements and supply of merchandise with options demanded by clients; lack of provide of supplies or capability necessities; availability of financing; alternate and inflation price fluctuations; uncertainty associated to the CSI Photo voltaic carve-out itemizing; litigation and different dangers as described within the Firm’s filings with the Securities and Change Fee, together with its annual report on Type 20-F filed on April 28, 2022, as amended by October 18, 2022. Though the Firm believes that the expectations mirrored within the forward-looking statements are affordable, it can not assure future outcomes, exercise ranges, efficiency, or achievements. Traders mustn’t place undue reliance on these forward-looking statements. All data offered on this press launch is as of the present date, except in any other case acknowledged, and Canadian Photo voltaic has no obligation to replace such data, besides as required beneath relevant regulation.
CANADIAN SOLAR INC. INVESTOR RELATIONS CONTACTS
Isabel Zhang
Investor Relations
Canadian Photo voltaic Inc.
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David Pasquale
World IR Companions
914-337-8801
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CSI ENERGY STORAGE MEDIA INQUIRIES
Aly Copple
Progressive Public Relations
713-201-8800
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SOURCE Canadian Photo voltaic Inc.
